select the correct answer. evelyn has taken out a college loan. she needs to pay $500 every month for two…

select the correct answer. evelyn has taken out a college loan. she needs to pay $500 every month for two years to repay the loan. what kind of loan does she have? a. a fixed - rate loan b. a variable - rate loan c. a constant - rate loan

select the correct answer. evelyn has taken out a college loan. she needs to pay $500 every month for two years to repay the loan. what kind of loan does she have? a. a fixed - rate loan b. a variable - rate loan c. a constant - rate loan

Answer

Brief Explanations:

A fixed - rate loan has consistent payments over the life of the loan. Since Evelyn pays $500 every month for two years, it indicates a fixed - rate loan. Variable - rate loans have payments that can change based on market conditions. The term "constant - rate loan" is not a standard financial term like fixed - rate loan.

Answer:

A. a fixed - rate loan