What can affect the interest rate for a loan? Choose three correct answers.the time of the year the loan is taken outthe customer’s ability to repay the loanthe customer’s social media postswhat the loan is used foreconomic conditions

Lenders consider how likely a borrower is to repay, so the customer’s ability to repay can affect the interest rate. The loan’s purpose can also matter because different types of loans carry different risks, and broader economic conditions influence interest rates. The time of year and a customer’s social media posts generally do not determine a loan’s rate.

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