Question: 3. Which situation makes a monthly loan payment increase?a. Changing the loan term from 5 years to 4 yearsb. Changing the interest rate from 6%

3. Which situation makes a monthly loan payment increase?a. Changing the

3. Which situation makes a monthly loan payment increase?a. Changing the loan term from 5 years to 4 yearsb. Changing the interest rate from 6% to 5%c. Using $500 from savings instead of borrowingd.Asking your parents for the money instead of the bankOAOBOcOD

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