Personal Finance Question
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- A short-term loan is for a maximum duration of 12 months while a long-term loan is for a maximum duration of 12 years.
- A short-term loan is for a maximum duration of 12 months while a long-term loan is for a minimum duration of 12 months.
- A short-term loan is for a maximum duration of 12 weeks while a long-term loan is for a minimum duration of 7 years.
- A short-term loan is for a minimum duration of 7 months while a long-term loan is for a minimum duration of 12 months.