Based on the details of each loan, which factor has the greatest impact on reducing the total repayment?
●Loan #1: $2,000, 3 years, at 10% → $64.53 monthly payment
●Loan #2: $2,000, 3 years, at 15% → $69.33 monthly payment
●Loan #3: $2,000, 5 years, at 10% → $42.49 monthly payment
A) longer loan period
B) lower interest rate
C) shorter loan period
D) higher interest rate
