Slave holders, hope this helps. =)
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.
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Answer:
The probability of getting tails and spinning on a red is
.
Explanation:
Since you can flip either heads or tails with the coin and there are 8 different spinner possibilities, that means there are a total of 16 individual possibilities. Out of the 16 different outcomes, 3 of them match the requirement of flipping tails and spinning on a red, so the fraction to represent the situation would be
.
Answer:
restriction of interest to a narrow sphere; undue concern with local interests or petty distinctions at the expense of general well-being.