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Tamiku [17]
2 years ago
9

Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan. What kind of loan does s

he have? A. a fixed-rate loan B. a variable-rate loan C. a constant-rate loan
Mathematics
2 answers:
GarryVolchara [31]2 years ago
5 0
<h2>Answer:</h2>

Option A. a fixed-rate loan - is the right answer.

<h2>Step-by-step explanation:</h2>

Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan.

As the monthly payment is same, this shows that the loan must be fixed rate.

If it would have been a variable rate loan, the monthly payments will not be the same for the loan tenure. They will change with time.

So, the answer is - A. a fixed-rate loan

joja [24]2 years ago
3 0

Answer:

I think your answer is A. This sounds like a fixed-rate loan.

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