Variable
Rate Interest
A variable rate credit agreement, as distinguished
from a fixed rate agreement, calls for an interest
rate that may fluctuate over the life of the loan.
The rate is often tied to an index that reflects
changes in market rates of interest. A fluctuation
in the rate causes changes in either the payments
or the length of the loan term. Limits are often
placed on the degree to which the interest rate
or the payments can vary.
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