which is a long-term consequence of paying less than the minimum amount due on your bills?\nthere will be a…

which is a long-term consequence of paying less than the minimum amount due on your bills?\nthere will be a late fee.\nyou will get a fee for having a negative balance in your checking account.\nthe number of payments will increase.\nit will be harder to get a good rate on a mortgage when you buy a house.

which is a long-term consequence of paying less than the minimum amount due on your bills?\nthere will be a late fee.\nyou will get a fee for having a negative balance in your checking account.\nthe number of payments will increase.\nit will be harder to get a good rate on a mortgage when you buy a house.

Answer

Brief Explanations:

  • A late fee is an immediate, short-term consequence, not long-term.
  • A negative checking account fee is unrelated to paying less than a bill's minimum.
  • While payments may increase slightly, this is not a long-term impact on financial standing.
  • Paying less than the minimum harms your credit score over time, and mortgage lenders use credit scores to set interest rates; a poor score makes it harder to secure a good mortgage rate, which is a long-term consequence.

Answer:

D. It will be harder to get a good rate on a mortgage when you buy a house.