Question

A bank offers a credit plan that lists 2% interest for the first year of a loan. If a customer takes the loan and 16 years later the rate for this loan is still 2%, the loan likely has a(n)

a-adjustable rate
b- credit limit
c-down payment
d-fixed rate

Answer 1

If the interest rate hasn't changed over the course of 16 years,
then that's pretty convincing evidence to suggest that the loan
has an fixed rate.