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Identify the correct statements. 1. Shortening the term of a loan will reduce total interest charges. II. The interest component of each installment loan payment

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Identify the correct statements. 1. Shortening the term of a loan will reduce total interest charges. II. The interest component of each installment loan payment rises over time. III. A credit card holder who pays the minimum balance each month will remain in good standing. Multiple Choice II and III, only I and III, only

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