Question: You are considering two amortized loans with the same interest rate and the same initial amount borrowed. If the number of months to repay Loan

You are considering two amortized loans with the same interest rate and the same initial amount borrowed. If the number of months to repay Loan X is greater than the number of months to repay Loan Y, the monthly payment on Loan X will be _____ than the payment on Loan Y.

Answer:

(A) Lower

(B) Higher

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