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27 July, 22:56

What would happen to a monthly payment if the interest rate decreased

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Answers (2)
  1. 27 July, 23:50
    0
    The monthly payment will consequently decrease

    Step-by-step explanation

    If the interest rate charged say on a mortgage loan is decreased, then the total repayments due will as a consequence decline provided the repayment term remains unaltered. Nevertheless, a decline in total repayments due amounts to a decrease in the monthly or annual repayments
  2. 28 July, 00:45
    0
    The monthly payment will consequently decrease

    Step-by-step explanation:

    If the interest rate charged say on a mortgage loan is decreased, then the total repayments due will as a consequence decline provided the repayment term remains unaltered. Nevertheless, a decline in total repayments due amounts to a decrease in the monthly or annual repayments
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