Which factor or factors listed below are external influences on a loan’s interest rate?I. the borrower’s credit historyII. the length of the loanIII. the federal funds rate

The federal funds rate is set by the broader financial system and can influence the interest rates lenders charge, so it is an external influence. The borrower’s credit history and the length of the loan are characteristics of the borrower or loan itself, rather than external economic factors. Therefore, only III is correct: “III only.”

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