What is the difference between a fixed rate and a variable rate loan.
A) Fixed rate loans have a variable interest rate, while variable rate loans have a fixed interest rate
B) Fixed rate loans have a fixed interest rate, while variable rate loans have a variable interest rate
C) Fixed rate loans have a lower interest rate than variable rate loans
D) Fixed rate loans have a higher interest rate than variable rate loans
Answer: B) Fixed rate loans have a fixed interest rate, while variable rate loans have a variable interest rate
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