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3 Which type of loan usually offers a low interest rate in the beginning and a much higher rate later in the lending period?
O Secured loan
O Adjustable rate loan
O Balloon rate loan
O Fixed rate loan
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Answer :

GinnyAnswer

Final answer:

Adjustable rate loans start with low interest rates but can increase significantly later on.


Explanation:

An adjustable rate loan usually offers a low interest rate in the beginning and a much higher rate later in the lending period. This type of loan allows the interest rate to vary with market interest rates over the life of the loan.


Learn more about Adjustable Rate Loans here:

https://brainly.com/question/29552913


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