2. what is a likely consequence of choosing a loan with a longer term?\na. immediate repayment…

Brief Explanations:

When a loan has a longer term, the interest is calculated over a more extended period. Using the simple - interest formula (I = Prt) (where (I) is interest, (P) is principal, (r) is rate, and (t) is time), as (t) (time) increases (assuming (P) and (r) are constant), (I) (interest) increases. For example, if you have a fixed - rate loan of (P=$1000), (r = 5%) (or (0.05)), for (t = 1) year, (I=1000\times0.05\times1=$50); for (t = 2) years, (I = 1000\times0.05\times2=$100). Also, for amortized loans (where payments are made regularly), a longer - term loan spreads the principal repayment over more periods. The monthly payment formula for a fixed - rate loan is (M=\frac{P\times r\times(1 + r)^n}{(1 + r)^n-1}) (where (M) is the monthly payment, (P) is the principal, (r) is the monthly interest rate, and (n) is the total number of payments). As (n) (related to the loan term) increases, the monthly payment (M) decreases (since the principal is paid back in smaller installments over more months). And a longer - term loan does not mean immediate repayment.

Answer:

B. Higher overall interest payments