Question

One advantage of a long-term loan compared to a short-term loan is that a long-term loan: O A. allows a person to borrow more money at a lower interest rate. B. does not force the borrower to make payments every month. C. can be paid off in full without the borrower paying any interest. D. does not thequire the borrower to have a good credit score​

Answer 1

Answer: A; allows a person to borrow more money at a lower interest rate

Explanation: A pex

Answer 2

One advantage of a long-term loan compared to a short-term loan is that a long-term loan allows a person to borrow more money at a lower interest rate. Thus the correct answer is A.

What is a long-term loan?

A loan received from any bank or financial institution for an extended period of time of more than 1 year is referred to as a long-term loan.

The advantage of a long-term loan is it allows borrowers to take a large amount of money at a low rate of interest and sufficient time to repay the loans.

Therefore, option A allows a person to borrow more money at a lower interest rate is the correct answer.

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