Suppose that over the life of the loan, the total interest expense for a monthly lean is $17.000 20 .while the total interest payment for an annual loan is $19,000. Which of the below statements is FALSE? O @ Reducing principal at a slower pace increases the overall interest paid on a loan. O Reducing principal Reducing principal at a slower pace reduces the overall interest paid on a lanat a lower pace veces the coverall interest paid on a loan The more frequent the payment the lower the total interest expense over the line at the loan even though the elective ate at the loan is hughal 3 The difference reflects the reduction of the principal each month versus the annual reduction of the principal