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What would happen to a monthly payment if the interest rate increased?
A. The payment would go up.
OB. The payment would go down.
OC. The payment would remain the same.
D. None of the above
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Respuesta :

michell96

In most cases, if the interest rate increases, the payment will also go up or increase.

What is the interest rate?

When you have a loan or debt, the interest rate refers to the amount of money per month, year, etc. that you paid for the benefit of having borrowed the money.

  • This is usually a small percentage of the total debt.

What happens if the interest rate increases?

This increases your total debt, and therefore, you will need to pay more money every month or year.

Learn more about percentage in: https://brainly.com/question/8011401

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