The correct response is:
The rate can go up or down, depending upon the index it is tied to.
Variable-rate loans, also known as adjustable-rate loans, have interest rates that can fluctuate based on changes in a specified benchmark index.
Which is true of variable-rate loans?(1 point)
Responses
The rate can go up or down, depending upon the index it is tied too.
The rate can go up or down, depending upon the index it is tied too.
The rate can only go up.
The rate can only go up.
The rate can only go down.
The rate can only go down.
The interest rate can fall below 0.
1 answer