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06-03-2024
Mathematics

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If a three-year car loan has the same interest rate as a six-year car loan, how do the monthly payment and the total interest for the two loans?
a) Monthly payment and total interest will be lower for the three-year loan.
b) Monthly payment and total interest will be higher for the three-year loan.
c) Monthly payment will be the same, but total interest will be higher for the three-year loan.
d) Monthly payment will be the same, but total interest will be lower for the three-year loan.

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