Most consumers give primary weight to the quoted APR on a loan and only secondary weight to the size of loan installment payments in deciding how much, when and where to borrow.

Question

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Most consumers often focus more on the size of the loan installment payments to ensure they can fit the payments into their monthly budget, rather than the APR, which represents the true cost of borrowing over the term of the loan.

Most Consumers Give Primary Weight to the Quoted APR on a Loan