Carlos-

(Fixed rate or Variable Rate) (the long term probably assured a variable rate or interest rates were holding steady)

Kenji drop down options-

(Single Payment or An installment) (Made best use of the rental money or didnt want to write a lot of checks)

Sharon drop down options-

(Single payment or An installment) (Saving is easier for her than paying or she only has to pay part of the loan each month)

Van-

(Variable or fixed rate) (Changed or Didnt Change)

Carlos Carlos needed a long-term loan, somewhere between 15 and 30 years. He learned that the longer the term, the fewer rate options he had. Carlos finally had to go with the 30-year loan. Carlos most likely took out a loan because Kenji wanted to rent a share in a ski house for the upcoming winter, a six-month season. The house owner would not allow Kenji to pay the rent in six equal payments over the course of the ski season and, instead, required full payment up front. Kenji found an investment opportunity promising a 7% annual return. He also found a loan with a 4% annual interest rate. He decided to take out the loan to pay the landlord the full amount of the rental. Every month, Kenji planned to deposited one sixth of the loan amount (or what would have been the monthly rental payment) into the investment and take the chance that the investment would return what it promised. Kenji most likely took out loan because he Sharon Sharon needed a loan and knew that she would be less likely to default if subject to monthly, fixed payments. Sharon most likely took out loan because Van and Carlos both needed loans, but they had different reasons, personalities, and financial positions. They each had to choose between obtaining a fixed-rate or variable-rate loan. Van Van took out a ten-year loan. He paid $368 every month for 120 months, until the loan was paid off. Van most likely took out a loan because the monthly payment and number of payments Kenji wanted to rent a share in a ski house for the upcoming winter, a six-month season. The house owner would not allow Kenji to pay the rent in six equal payments over the course of the ski season and, instead, required full payment up front. Kenji found an investment opportunity promising a 7% annual return. He also found a loan with a 4% annual interest rate. He decided to take out the loan to pay the landlord the full amount of the rental. Every month, Kenji planned to deposited one sixth of the loan amount (or what would have been the monthly rental payment) into the investment and take the chance that the investment would return what it promised. Kenji most likely took out loan because he Sharon Sharon needed a loan and knew that she would be less likely to default if subject to monthly, fixed payments. Sharon most likely took out loan because Van and Carlos both needed loans, but they had different reasons, personalities, and financial positions. They each had to choose between obtaining a fixed-rate or variable-rate loan. Van Van took out a ten-year loan. He paid $368 every month for 120 months, until the loan was paid off. Van most likely took out a loan because the monthly payment and number of payments