Question: Tara bought a condo. She paid 2 2 % down and is going to make payments for 2 5 years, She locked in the rate
Tara bought a condo. She paid down and is going to make payments for years, She locked in the rate for five years. Which of the following statements is not true?
The interest rate cannot change for five years.
The way she has set this up she will pay off the entire loan in years.
The term is five years.
The amortization period is five years.
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