Which of the Following Is Not Characteristic of a Growing-Equity

question 19

Multiple Choice

Which of the following is not characteristic of a growing-equity mortgage?

• A)It has a fixed interest rate.
• B)Payment increases are determined annually on the basis of inflation.
• C)Increased payments go to reducing principal owed.
• D)The loan is paid off in shorter period of time compared to a conventional loan.

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Definitions:

Individual Differences

Refers to the variations among people in their qualities or characteristics, such as abilities, personality traits, and emotional responses.

Middle Childhood

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A medical condition where excess body fat accumulates to an extent that may have a negative effect on health.

Asthma

A chronic disease of the airways that makes breathing difficult by causing inflammation and narrowing of the bronchial tubes.