Which of the following is not something that should be considered when creating a debt payment plan?
a.
in general, the larger the debt, the longer you should plan to take to pay it off.
b.
higher interest rates create more cost than lower interest rates on a similar debt.
c.
making a payment larger than required or expected will pay off the debt sooner.
d.
the longer you take to pay off your debt, the more you will be paying in interest and other fees.

Option: A is the answer.

Step-by-step explanation:

We are asked the incorrect statement among the following statements based on creating a debt payment plan

a)

In general, the larger the debt, the longer you should plan to take to pay it off.

The statement is false because if we take a long time to pay debt than we have to pay a more interest on the debt.

b)

Higher interest rates create more cost than lower interest rates on a similar debt.

The statement is true, Because if the interest rate is high than we have to pay more amount.

c)

Making a payment larger than required or expected will help pay off the debt sooner.

This statement is also true  because if we pay more money than the debt amount will be paid soon than the time.

d)

The longer you take to pay off your debt, the more you will be paying in interest and other fees.

This statement is also true.

Hence, option A is the answer.

46.2+112.3

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