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8 December, 02:03

Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan. What kind of loan does she have? Select one of the options below as your answer:

A. a fixed-rate loan

B. a variable-rate loan

C. a constant-rate loan

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  1. 8 December, 04:38
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    Evelyn has taken out a colleage loan. She needs to pay five hundred dollars ($500) a month for the next two years to repay the loan. This type of loan is called the fixed-rate loan. The interest rate does not fluctuate during the period of the loan. The answer would be letter A.
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