Business, 26.08.2019 05:30 onlymyworld27

Amonthly fixed rate mortgage
a. could change.
b. never changes.
c. increases annually.
d. decreases annually.

Answers: 2

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Answers

Answer from: greeneashlynt

Answer;

B. never changes

Explanation;

-The fixed monthly payment for a fixed-rate mortgage is the amount paid by the borrower every month that ensures that the loan is paid off in full with interest at the end of its term.

The advantage of the fixed rate mortgage is that the payment is the same each month. This predictability makes it easier to plan your budget. There is no need to worry about future higher payments as with an adjustable-rate mortgage. There is a pay off a little of the principal each month. That automatically increases owner's home equity. -

Answer from: gmanbom

Option B is correct.

A monthly fixed-rate mortgage payment never changes.

Further Explanation:

Mortgage payment: Mortgage payment is the payment of the principal and interest on the mortgage loan. The mortgage loan is a type of loan where the asset is used as collateral, and the loan is disbursed. Mortgage payment remains constant. The issuer of the loan specifies the amount of the mortgage payment and the time interval of the payment. So, the amount of mortgage payment remains same for all the installments.

Justification for the correct and incorrect

Could change: This is an incorrect option.

The issuer of the loan specifies the installment. So, it does not change over the period of time.

Never changes: This is the correct option.

The mortgage payment is divided into the equal payment of the loan amount along with interest.

Increases annually: This is an incorrect option.

The mortgage payment decreases the outstanding balance of the loan. So, the interest would decrease in the future payment. It would not increase annually.

Decreases annually: This is an incorrect option.

The mortgage loan is divided into equal installments, so it cannot decrease annually.

Learn more:

Learn more about the collateral loans

Learn more about loaning the money

Learn more about the mortgage payment

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Bonds & Debentures

Keywords: Bond, payable, loan, due date, maturity date, principal, interest, interest rate, could change, never changes, increases annually, decreases annually, fixed-rate, mortgage, mortgage loan, mortgage loan payment, mortgage payment.

Answer from: Quest

explanation:

kool beans

Answer from: Quest

answer: heh

explanation:

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Amonthly fixed rate mortgage
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