For a fixed loan amount, what happens to the monthly payment as the annual rate increases?

a. as the annual rate increases, the monthly payment increases

c. as the annual rate increases, the monthly payment stays the same

b. as the annual rate increases, the monthly payment decreases

d. no correlation

Question

Kiki

3 January, 06:23

+5

Answers (1)

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Sandra Lara · Answer 1

The answer is C. as the annual rate increases, the monthly payment stays the same.

For a fixed loan amount, what happens to the monthly payment as the annual rate increases?a. as the annual rate increases, the monthly payment increasesc. as the annual rate increases, the monthly payment stays the sameb. as the annual rate increases, the monthly payment decreasesd. no correlation