A Fixed-Rate Loan Is a Loan Whose Rate of Interest

question 143

True/False

A fixed-rate loan is a loan whose rate of interest is established at a fixed increment above the prime rate and is allowed to vary above prime only when the prime rate varies until maturity.

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Definitions:

Digastrics

A muscle located under the jaw that acts in the opening of the mouth and drawing back of the lower jaw.

Levator Veli Palatine

A muscle in the oral cavity that elevates the soft palate during swallowing and speaking to prevent food from entering the nasal passages.

Soft Palate

The soft tissue constituting the back of the roof of the mouth, separating the mouth from the nasopharynx.

Middle Constrictor

A muscle that encircles the pharynx, responsible for constriction during swallowing to push food into the esophagus.