A bank advertises a mortgage with the following interest rate: 2.99% (12-month Euribor + 2.50%), resetting once
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A bank advertises a mortgage with the following interest rate: 2.99% (12-month Euribor + 2.50%), resetting once a year. The mortgage is most likely:
A. A hybrid mortgage.
B. An adjustable-rate mortgage.
C. An initial period fixed-rate mortgage.
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