Question

Which is true of variable-rate loans? (1 point)

A. The rate can go up or down, depending upon the index it is tied too.

B. The rate can only go down.

C. The interest rate can fall below 0.

D. The rate can only go up.

Answer 1

[AI-generated answer — Bot GPT 3.5]

A. The rate can go up or down, depending upon the index it is tied too.