Your parents may be able to help you with the down payment, but Lorenzo told you to assume they will and to enter a down payment on the application including their contribution. are the characteristics of your reasons for feeling uneasy about Lorenzo the loan officer? Check all that apply. The way the loan officer omitted pertinent information The loan officer's embellishment of the facts Feeling under pressure to make a decision friend suggested you look into a variable-rate loan. What questions should you ask? Check all that apply. How many points are added to the base rate? What is the interest rate tied to? Can I afford the maximum possible monthly payment? What changes after a rate adjustment-the monthly payment amount or the number of monthly payments left on the loan? n the long list of relevant loan-related considerations described above, the paradox of choice often arises when attempting to make borrowing sions. Which of the following phrases addresses the characteristics and recommended solutions for this phenomenon? Check all that apply. Arises when there are too many complicated choices, such you can become overwhelmed and make poor decisions Arises when there are too few alternatives and you wish you had more features or options to select from Identify 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 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 lender's offer? Check all that apply. Where is the lending institution located? If I accept the loan, what is my new debt safety ratio? What is the total cost of transaction (cost of item purchased plus cost of loan)? What is the loan's APR? What late payment charges, if any, can be accessed, and when? You're shopping for a big loan, but you have misgivings about Lorenzo, 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. Lorenzo spent most of the time emphasizing benefits of loans with balloon payments and interest-only payments. Lorenzo gave you a range of terms and said they'll be worked out at closing. When you filled out the application, Lorenzo said if you weren't sure about something on it, you could take the application home and complete it when you had the correct answers. When you filled out the loan application, Lorenzo told you to leave out the smaller amounts you owe to department stores. Lorenzo told you that the interest rate is the only important fee to worry about and that discussing the APR is an unnecessary complication. Lorenzo said that today is the only day you can secure the loan with favorable terms. Lorenzo encouraged you to shop around