Question

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

A. adjustable rate

B. fixed rate

C. down payment

D. credit limit

Answer 1

the answer is fixed rate, i had this on a test, only thing is it was in the D) section but still...the answer is B) Fixed rate

Answer 2

...................................

B.Fixed Rate

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