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When the interest rate on a variable installment loan changes, which of the following may occur? The monthly payment may increase or decrease. The amount

When the interest rate on a variable installment loan changes, which of the following may occur?

The monthly payment may increase or decrease.

The amount of each payment applied to the loan principal may increase or decrease.

The length of time until the loan is repaid may increase or decrease.

All of the answer choices are correct.

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