For a fixed-rate loan, the interest rate remains the same throughout the life of the loan. For a variable-rate loan, the interest rate changes based on the time of year.
Answer: Option A
<u>Explanation:</u>
Loan rates are classified into two types: Fixed and Variable. In Fixed loan rates the interest rate prevails the same throughout the loan's life. Variable loan rates are also called floating loan rates. This interest rate will oscillate based on the outstanding balance as well as market rates.
These rates will be changed periodically like monthly, quarterly, half-yearly or annual basis. Comparing to the fixed rate, it is harder to estimate the interest rate for the borrowers. It can be increased or even decreased based on the loan's life.
<span>D. Books became less expensive and more available throughout Europe.</span>
Feudalism was a European political system in which a lord owned all the land while vassals and serfs farmed it.
Medieval age lasted for more than thousand years. The medieval age is formerly proclaimed to be Dark Age not because it was dark but because nothing was known.
After the collapse of Greek and Roman civilizations, the whole of Europe came under the supremacy of the churches at that which gained control. It was called as nothing was known or studied about the political structure that prevailed during that period.
Dark Age does not actually refer to the time when people spent much of their time in darkness. It simply means that nothing came into light from the period when great civilizations came to an end.
