Explain why the APR does not compare loans for different lengths of time

APR does not tell you how long your rate is locked for. A 15-year loan may have a lower interest rate, but could have a higher APR, since the loan fees are amortized over a shorter period of time. It is not wise to compare a 30-year loan with a 15-year loan using their respective APRs.

Step-by-step explanation:

none.

step-by-step explanation:

m

1

=

5

m1=5

b

=

−

1

b=-1

find the slope and y-intercept of the second equation.

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m

2

=

0

m2=0

b

=

−

6

b=-6

compare the slopes

m

m of the two equations.

m

1

=

5

,

m

2

=

0

m1=5,m2=0

compare the two slopes in the decimal form. if the slopes are equal, then the lines are parallel. if the slopes are not equal, then the lines are not parallel.

m

1

=

5

,

m

2

=

0

m1=5,m2=0