5. General factors to consider when shopping for a consumer loan Factors to consider Before Taking Out a Consumer Loan You've made the decision to purchase an Item that is affordable only with a loan. When shopping for a loan, there are many aspects of the loans that you should examine. Which of the following questions should be asked and answered about a specific loan proposal before accepting a lenders offer? Check all that apply. DI accept the loan, what is my new debt safety ratio? B What iete payment charges, if any, can be accessed, and when? Does the loan have a prepayment penalty? What is the reason for loan? What is the loans APK You're shopping for a big loan, but you have misgivings about Janet, the loan officer at an institution you just visited. What are some reasons that may have you uneory about accepting a loan there? Check out that apply You're shopping for a big loan, but you have misgivings about Janet, the loan officer, at an institution you just visited. What are some reasons that may have you uneasy about accepting a loan there? Check all that apply. Janet encouraged you to shop around. Janet pointed out that the APR and Interest rate were different Janet spent most of the time emphasizing benents of loans with balloon payments and interest-only payments When you nlled out the loan application, Janet told you to leave out the smaller amounts you owe to department stores: Janet said that today is the only day you can secure the loan with favorable terms. Janet told you that the interest rate is the only important fee to worry about and that discussing the APR is an unnecessary complication, When you Tilled out the application, Janet sold if you weren't sure about something on it, you could take the application home and complete it when you had the correct answers. Your parents may be able to help you with the down payment, bot Janet told you to assume they will and to enter a down payment on the application including their contribution What are the characteristics of your reasons for feeling uneasy about Janet the loan officer? Check all that apply The way the loan officer omitted pertinent information Feeling under pressure to make a decision The loan officer's embellishment of the facts Your friend suggested you look into a variable-rate toon. What questions should you mak? Check all that apply Is there a maximum rate? How many points are added to the base rate? What changes after a rate adjustment-the monthly payment amount or the number of monthly payments left on the loan? What is the interest rate tied to? Given the long list of relevant loan-related considerations described above, the paradox of choice often arises when attempting to make borrowing decisions, Which of the following phrases addresses the characteristics and recommended solutions for this phenomenon? Check all that apply. Identity your goals and a framework for evaluating any trade-offs that must be made when making your decision Keep it simple and select the easiest or least expensive alternative Prepare a list of possible alternatives and make a random selection Anses when there are too many complicated choices, nuch you can become overwhelmed and make poor decisions