On a Fixed Rate Mortgage,the Monthly

question 107

Multiple Choice

On a fixed rate mortgage,the monthly

• A) payment remains constant and the interest rate fluctuates.
• B) payment remains constant and interest rate stays the same.
• C) rate varies and the interest rate varies.
• D) payment remains constant until the balloon payment.

---

Definitions:

Wye-Connected

A method of connecting three-phase motors or transformers where the ends are connected to form a "Y" shape, facilitating the use of both line and phase voltages.

Phase Current

The current that flows through any one phase of a multi-phase system, like in three-phase electrical systems.

Resistive Load

An electrical load that consumes power in the form of heat, and its resistance essentially remains constant throughout its operation.

Line Voltage

The voltage measured between any two phases in a multi-phase electrical system.