Toni requires a personal loan for $3,000 with monthly payments. Toni considers several loan offers with the same APR and needs to decide whether monthly payments for 1 year is better than 2 years. Why might Toni choose a shorter time period to pay off a loan?

Answer rating: 100% (QA)

Toni might choose a shorter time period to pay off the loan for several reasons Lower total interest ... View the full answer