Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 3 weeks ago

As the term of a mortgage increases, holding interest rates constant, the monthly payments will ?

Update:

(Finance Question)

As the term of a mortgage increases, holding interest rates constant, the monthly payments will ?

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3 Answers

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  • Dan B
    Lv 7
    3 weeks ago

    Decrease. Longer term means lower monthly payments.

  • 3 weeks ago

    gee ... if only there were some financial formulas to test various theories (up, down, sideways)

  • 3 weeks ago

    Decrease. Interest paid will increase. Repayment of principal takes longer.

    • curtisports2
      Lv 7
      3 weeks agoReport

      That screenshot says I'm correct - decrease. If you think that screenshot means 'decrease' is wrong, then the other three, unchecked circles all, must be correct. That is not possible with a multiple choice answer. You're reading it wrong.

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