Answer:
A loan of $ 100,000 that is set for a term of 30 years is a long term loan.
Explanation:
A loan is considered long term when the debt exceeds one year. For this reason, we can consider that the loan exposed in the question is a long-term loan, since it has a term of 30 years to be paid.
Whatever your reason for needing a long-term loan, it is necessary to do a planning and simulations before confirming the loan. Thus, you will have more security and certainty that you are opting for a good loan.
