a person buying a home with a mortgage loan that has a variable interest rate will generally\npay more for…

a person buying a home with a mortgage loan that has a variable interest rate will generally\npay more for the loan if interest rates go up.\nbe assured of that rate during the life of the loan.\npay back the loan in a shorter period of time.\nearn interest on the loan when interest rates rise.

a person buying a home with a mortgage loan that has a variable interest rate will generally\npay more for the loan if interest rates go up.\nbe assured of that rate during the life of the loan.\npay back the loan in a shorter period of time.\nearn interest on the loan when interest rates rise.

Answer

Brief Explanations:

A variable - interest - rate mortgage means the interest rate can change over time. When interest rates go up, the amount of interest the borrower has to pay on the loan increases, resulting in paying more for the loan overall. A fixed - rate mortgage assures the rate during the life of the loan. There is no guarantee of paying back the loan in a shorter period, and the borrower does not earn interest on the loan.

Answer:

pay more for the loan if interest rates go up.