The Rate Cap on an ARM Protects the Borrower

question 60

True/False

The rate cap on an ARM protects the borrower.

---

Definitions:

Algorithm

A step-by-step procedure or formula for solving a problem or performing a task.

Secondary Storage

Secondary storage refers to non-volatile memory that is used for storing data permanently, such as hard drives, SSDs, CDs, and USB flash drives.

Hard Disks

Non-volatile storage devices used to store and retrieve digital information using rapidly rotating disks.

Floppy Disks

A type of data storage medium that was commonly used in the past, consisting of a thin disk of a flexible magnetic storage medium encased in a square or rectangular plastic shell.