A bank offers a credit plan that lists 2% interest for the first year of a loan. If a customer takes the loan and 16 years later the rate for this loan is still 2%, the loan likely has a (n)

a-adjustable rate

b - credit limit

c-down payment

d-fixed rate

Question

6 August, 09:51

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Answers (1)

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Zain Cruz · Answer 1

If the interest rate hasn't changed over the course of 16 years,

then that's pretty convincing evidence to suggest that the loan

has an fixed rate.

A bank offers a credit plan that lists 2% interest for the first year of a loan. If a customer takes the loan and 16 years later the rate for this loan is still 2%, the loan likely has a (n)a-adjustable rateb - credit limitc-down paymentd-fixed rate