Question

What is the benefit of having a fixed interest rate loan?

a. Your interest rate changes annually, therefore, you may be able to get a
lower rate.
b. Your interest rate stays the same, therefore, the amount of interest you
pay stays the same.
Your interest rate changes, therefore, making this an easier loan to
obtain.
d. Your interest rate stays the same, but the monthly payment on this type
of loan changes drastically.
C.

Answer 1

I think the answer is A. Your interest rate changes annually, therefore, you may be able to get a lower rate.

Step-by-step explanation:

The main advantage of a fixed-rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. Fixed-rate mortgages are easy to understand and vary little from lender to lender.

I hope this helps u! :D