select the correct answer. tanya is considering obtaining a loan. which benefit will tanya receive if she…

select the correct answer. tanya is considering obtaining a loan. which benefit will tanya receive if she makes a down - payment when she obtains the loan? a. higher finance charge b. higher interest rate c. higher principal amount d. lower penalties on late payments e. lower principal amount

select the correct answer. tanya is considering obtaining a loan. which benefit will tanya receive if she makes a down - payment when she obtains the loan? a. higher finance charge b. higher interest rate c. higher principal amount d. lower penalties on late payments e. lower principal amount

Answer

Answer:

E. lower principal amount

Brief Explanations:

A down - payment reduces the amount of money borrowed, thus lowering the principal amount of the loan. Higher finance charges, interest rates are not benefits of down - payment. Down - payment has no direct relation to late - payment penalties.