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Strategies for Professional Growth · Quiz 2 · 24 Mar 2024 · January 2024 term · Set 1

Question 21: Which statement about fixed-rate and variable-rate inter…

Question 21

+1 markOne correct option

Which statement about fixed-rate and variable-rate interest loans is false?

  1. A

    Interest on fixed-rate loans stays the same for the life of the loan.

  2. B

    Interest on variable-rate loans can fluctuate, which could affect the paymentsyou must make.

  3. C

    Interest rates on fixed-rate loans are usually lower than starting rates onvariable-rate loans.

  4. D

    Fixed-rate loans offer more stability and predictability in interest paymentscompared to variable-rate loans.

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Correct answer

  • C

    Interest rates on fixed-rate loans are usually lower than starting rates onvariable-rate loans.

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Question 21 of 27 in the IIT Madras BS Strategies for Professional Growth (SPG) Quiz 2 paper sat on 24 Mar 2024, in the January 2024 term (IIT M DEGREE AN EXAM QDB2 24 Mar 2024). It carries 1 mark.

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