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audreyjbarrett audreyjbarrett
  • 28-01-2017
  • History
Answered

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

Verified Answer :

jaylamusgrove jaylamusgrove
  • 06-07-2018

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

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annyksl
annyksl annyksl
  • 25-03-2019

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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