Question

What are the cost and benefits of taking longer to pay off a loan ?

Answer 1

The main plus to paying off debt early is that you no longer have to fork over money to a lender; you'll now have extra money to spend on other things. You can also potentially save a lot in interest payments.

Step-by-step explanation:

Answer 2

The main plus to paying off debt early is that you no longer have to fork over money to a lender; you'll now have extra money to spend on other things. You can also potentially save a lot in interest payments.