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The Longer the Term of the Loan the Greater the Amount

question 18

True/False

The longer the term of the loan the greater the amount of interest charges that must be paid.


Definitions:

Ratio

A relationship between two quantities expressed as the quotient of one divided by the other.

Equivalent Ratio

A way to express the same relationship or proportion between two quantities, although the numbers involved may differ.

Equivalent Ratio

A proportional relationship between two quantities showing how many times one value contains or is contained within the other.

Ratio

A ratio is a quantitative relationship between two numbers showing the number of times one value contains or is contained within the other.

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