Other things equal, the shorter the loan period and the larger the loan size, the higher is the interest rate charged by the lender.

Question

Quizplus · Accepted Answer

Interest rates are primarily determined by factors such as the lender's assessment of the risk of the loan, market interest rates, and the borrower's creditworthiness, rather than the size of the loan or the length of the loan period directly.

Other Things Equal, the Shorter the Loan Period and the Larger