agiellis23
contestada

Which of the following statements is true? a. A 30 year fixed mortgage will always result in the lowest payment. b. You must have at least a 20% down payment to get a competitive interest rate. c. The lower your interest rate is, the lower your monthly payments are. d. The faster you pay off your mortgage, the lower your monthly payments are.

Respuesta :

Answer:

The correct answer is option C.

Step-by-step explanation:

The lower your interest rate is, the lower your monthly payments are. This is true. The interest rate is directly proportional to monthly or yearly payments. If the rates are high, the installments are high and if the rate of interest is low, the installments are lower.

ajeigbeibraheem

The statement that is true from the following options is c. The lower your interest rate is, the lower your monthly payments are.

What is the interest rate?

The interest rate on a monthly allowance of a worker is the percentage of principal charges deducted by the federal reserve to attain the economic growth of the country.

  • The higher your monthly payment, the higher the percentage of tax deducted from your monthly payment, vice versa.

Therefore, we can conclude that the lower your interest rate is, the lower your monthly payments are.

Learn more about interest rates here:

https://brainly.com/question/25545513

Otras preguntas