1)If an interest rate is fixed that means the rate

Ais adjustable.

Bcan go up or down based on factors in the credit market.

Cwill stay the same during the entire term of the loan.

Dtransfers part of the interest risk from the lender to the borrower.

2)Small business loans are easier to get if

Athe owner has a lot of his own money invested in the business.

Bthe owner has a high ratio of debt to equity.

Cthe equity investment is low.

Dthe business is partly owned by a larger business.

3)A typical mortgage term is:

A5 years

B72 months

C3 years

D20 years

4)The preferred debt-to-income ratio is usually:

A28 percent

B36 percent

C40 percent

D50 percent

5)A typical payday loan carries an interest rate of about:

A400 percent

B31 percent

C12 percent

D7 percent