A $100,000 loan that is set for a 30-year term is: a short-term loan often set with a high interest rate a long-term loan a low interest rate

2 answers
Question:

A $100,000 loan that is set for a 30-year term is:
a short-term loan
often set with a high interest rate
a long-term loan
a low interest rate

Answers

A long-term loan for 30-years is a bit long for that amount of money

This is a long-term loan. A loan is considered long term when the debt exceeds one year. In this case, the term is 30 years, so it is a long-term loan.

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