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Eieio Eieio
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10 months ago
Variable-rate loans usually carry lower initial interest rates than fixed-rate loans because the

▸ borrower does not have the option of early payment of the loan.

▸ lender does not have the option of raising the rate.

▸ lender has the option of raising the rate later.

▸ borrower may not receive a lower rate in the future.
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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crwille78crwille78
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10 months ago
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