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What happens to happens to the annual payment on a loan as the term of the loan increases? O It stays the same O It decreases O It increases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What happens to happens to the annual payment on a loan as the term of the
loan increases?
O It stays the same
It decreases
It increases

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