Why short term loans are cheaper than long term loans?

Answers:1   |   LastUpdateAt:2012-10-11 16:22:02  

Question
magpie
Asked at 2012-09-20 15:57:03
Why are short term loans are cheaper than long-term loans ?
Answer1im_a_h8r_n_luvin_it(only hate certain people)Answered at 2012-10-11 16:20:21
when you pay the loan is repaid the money you borrowed plus a certain amount of interest . MedlinePlus MedlinePlus The interest becomes larger by the amount of time the loan have . MedlinePlus MedlinePlus So if you pay it back over a long period of time (long-term loan ) , interest accrues , but if you pay it back in a shorter period of time (short term loan ) the interest is not so high . < Br > MedlinePlus Hope this helps . XX
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