Which Of These Describes How A Fixed Rate Mortgage Works
Question: What does leasing a car involve?
Answer: renting the car for a specific period of time and paying for its depreciation
Question: When can a bank repossess someone’s car?
Answer: when the owner defaults on the loan payments
Question: Why do many banks consider student loans risky investments?
Answer: Student loans aren’t secured by collateral.
Question: Which of these describes how a fixed-rate mortgage works?
Answer: The monthly payment on a fixed-rate mortgage never changes.
Question: What is one of the disadvantages of getting a government-sponsored mortgage?
Answer: Government mortgages put a limit on the purchase price of a house.
Question: What is one advantage of using a credit card to make purchases?
Answer: You can buy something now and pay for it later.
Question: Which situation would result in a credit card issuer charging a balance-transfer fee?
Answer: A cardholder pays off one credit card with a new credit card.
Question: Why is it important for people to maintain a good credit history?
Answer: so they have an easier time getting loans and credit cards
Question: Which of these credit card features would be best for customers who often forget to send in their payments on time?
Answer: a low late payment fee
Question: Which credit card feature determines the number of days after a purchase before fees or interest are charged?
Answer: grace period