1) If an interest rate is fixed that means the rate
A. is adjustable.
B. can go up or down based on factors in the credit market.
C. will stay the same during the entire term of the loan.
D. transfers part of the interest risk from the lender to the borrower.
2) Small business loans are easier to get if
A. the owner has a lot of his own money invested in the business.
B. the owner has a high ratio of debt to equity.
C. the equity investment is low.
D. the business is partly owned by a larger business.
3) A typical mortgage term is:
A. 5 years
B. 72 months
C. 3 years
D. 20 years
4) The preferred debt-to-income ratio is usually:
A. 28 percent
B. 36 percent
C. 40 percent
D. 50 percent
5) A typical payday loan carries an interest rate of аbout:
A. 400 percent
B. 31 percent
C. 12 percent
D. 7 percent
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