Question

Jackson has saved enough to make a down payment on a new car. He will need to get a loan to cover the rest of the car's cost. What would be MOST beneficial for Jackson?

Answer 1

Answer:C getting a fixed rate loan when interest rates are low

Answer 2

Getting a fixed rate loan when interest is low.

Step-by-step explanation:

In the fixed interest rate the rate charged on the borrowed amount is fixed and is applicable during term of the loan. It is suitable for the borrower who do not want the interest rates to fluctuate or increase in the interest expenses and prevents from the risks of floating interest rate because the rate payable by the borrower can vary as per the standard interest rate. Hence Jackson should fixed rate loan when the interest is low, it will be beneficial for him a it would prevent him from interest fluctuations and will have to pay less interest.