A shorter maturity for a loan results in lower monthly payments and therefore makes it easier to cover the payments each month.

Name: A shorter maturity for a loan results in lower monthly payments and therefore makes it easier to cover the payments each month.
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Question

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The shorter the maturity for a loan, the higher the monthly payments will be since you are paying off the loan faster. A longer maturity will result in lower monthly payments but a higher total cost over the life of the loan.

A Shorter Maturity for a Loan Results in Lower Monthly