When Comparing Two Installment Loans with the Same Principal and Annual

question 49

Multiple Choice

When comparing two installment loans with the same principal and annual percentage rate (APR) ,the loan with ____________. ​

• A)the longer maturity will have the lower monthly payment and the higher total costs
• B)the shorter maturity will have the lower monthly payment and the higher total costs
• C)the longer maturity will have the higher monthly payment and the higher total costs
• D)the shorter maturity will have the lower monthly payment and the lower total costs

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Definitions:

Psychological Assessment

The practice of using standardized tests, interviews, and observations to evaluate an individual's psychological functioning and diagnose potential mental health issues.

American Psychological Association

A leading scientific and professional organization representing psychology in the United States, aimed at advancing psychology as a science, improving the qualifications of psychologists, and promoting health, education, and human welfare.

Statistics

The branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data.

Forensic Health Evaluators

Professionals who assess individuals' physical and mental health within legal contexts, often to inform court judgements or legal proceedings.