Why would someone choose a fixed rate loan over a variable rate loan?

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section4.1: Americans And Credit
Problem 6R
icon
Related questions
Question
100%
Why would someone choose a fixed rate loan over a variable rate loan?
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Loan
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co