Why is the interest rate of a loan one of the most important things to consider when shopping around for loans?
a.
the interest rate should be ignored, because there’s nothing a consumer can do to change it.
b.
the interest rate is essentially how long you have to pay off your loan, and the shorter the better.
c.
the interest rate can drastically change the total amount paid to the lender, in the case of mortgages, up to thousands of dollars.
d.
the interest rate does not change, even between banks, so choosing the right time to borrow is essential.

 The answer is (c) The interest rate can drastically change the total amount paid to the lender, in the case of mortgages, up to thousands of dollars.

Step-by-step explanation:  We are given four options out of which we are to select the reason behind the importance of interest rate of a loan while shopping around for loans.

We should not ignore the interest rates as they are the most important part of a loan. So, options (a) and (d) are not correct.Sometimes the duration of the loan does not matter and we have to pay the same amount of interest during till the loan ends. So, option (b) is also not correct.

Obviously, the interest rate can change the total amount to be paid to the lenders and hence option (c) is the correct option.

ian gone lie this got me confused

step-by-step explanation: