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Which of these are the best possible scenarios for selecting a loan that would minimize your costs?

Select the THREE (3) that apply.

A. a higher APR
B. a lower APR
C. a short-term loan
D. making extra principal payments



Answer :

GinnyAnswer

Final answer:

Lower APR, short-term loans, and extra principal payments help minimize loan costs.


Explanation:

Lower APR is a better scenario for selecting a loan as it reduces the cost of borrowing money. Additionally, choosing a short-term loan minimizes the overall interest paid on the loan due to the shorter repayment period. Making extra principal payments helps in reducing the total interest paid over the life of the loan, thus minimizing costs.


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