If the Interest Rate on a Loan Changes According to the Daily

question 48

Multiple Choice

If the interest rate on a loan changes according to the daily average of the prime rate over the life of the loan,the interest rate is said to be:

• A)floating.
• B)non-variable.
• C)unsecured.
• D)sporadic.
• E)flexible.

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Definitions:

Attitude

A settled way of thinking or feeling about something, often reflected in a person's behavior.

Employers

Organizations or individuals that hire employees to perform specific tasks in exchange for compensation.

Negative Attitude

A pessimistic outlook or disposition towards individuals, events, or situations, often resulting in adverse effects.

Employees

Individuals who are hired by employers to perform specific jobs in exchange for compensation, and who typically have designated roles and responsibilities within an organization.