Which of the Following Statements Is FALSE If You Increase

question 84

Multiple Choice

Which of the following statements is FALSE if you increase your monthly payment above the required loan payment?

• A)The extra portion of the payment goes to the principal.
• B)You can significantly decrease the number of payments needed to pay off the loan.
• C)The extra portion of the payment increases the principal.
• D)Besides lowering the principal,you can significantly reduce the number of payments needed to pay off the loan.

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Definitions:

Teenagers

Young individuals typically aged between 13 and 19 years, often considered a distinct demographic group in sociological and economic studies.

Real Wages

Wages that have been adjusted for inflation, representing the purchasing power of income earned from labor.

Money Wages

The nominal wages received by employees, measured in units of currency rather than purchasing power.

Consumer Price Index

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.