80.7k views
1 vote
What would happen to an annual payment if the APR charged was decreased

User Smoksnes
by
5.7k points

1 Answer

2 votes

Answer

The annual payment will consequently decrease

Step-by-step explanation:

If the APR charged say on a mortgage loan is decreased, then the total repayments due will as a consequence decline provided the repayment term remains unaltered. Nevertheless, a decline in total repayments due amounts to a decrease in the annual repayments

User Artem Aliev
by
5.9k points