Personal Finance (12th Grade)
Mortgages
What is the difference between a fixed-rate mortgage and an adjustable-rate mortgage?
Fixed-rate mortgage has a variable interest rate, while adjustable-rate mortgage has a fixed interest rate
Fixed-rate mortgage has a fixed interest rate, while adjustable-rate mortgage has a variable interest rate
Fixed-rate mortgage requires a down payment, while adjustable-rate mortgage does not
Fixed-rate mortgage has shorter loan terms, while adjustable-rate mortgage has longer loan terms
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