Answer: The correct response is "Interest rates vary between lenders and can drastically change the monthly payment."
The interest rate is one of the most important things to consider when shopping around for loans because it determines the cost of borrowing money. Different lenders offer different interest rates, and even a small difference in interest rates can have a big impact on the total cost of the loan. A higher interest rate will result in a higher monthly payment, and a longer repayment period, which can make the loan more expensive overall. Therefore, it is important to shop around and compare interest rates from different lenders to find the best deal.
Explanation: