Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

4 Which type of loan has a set interest rate?
Balloon rate
Adjustable rate
O Variable rate
Fixed rate
Skip‣
3/10 complete

Sagot :

GinnyAnswer

Final answer:

Fixed rate loans have a set interest rate that remains constant, offering stability to borrowers.


Explanation:

Fixed rate loans have a set interest rate that remains constant throughout the loan term. Unlike adjustable-rate loans where the interest rate can fluctuate based on market conditions, fixed-rate loans provide stability and predictability to borrowers.

For example, a 30-year fixed-rate mortgage will have the same interest rate for the entire 30-year period, ensuring that the monthly payments remain consistent.

Choosing a fixed-rate loan can be beneficial for individuals seeking to lock in a specific interest rate and avoid potential increases in payments due to interest rate changes.


Learn more about Types of loans here:

https://brainly.com/question/30104409


We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.