Question

Evelyn has taken out a college loan. She needs to pay $500 every month for two years to repay the loan. What kind of loan does she have?

Answer 1

little help

hope you knoe that a year has 12 month - yes ? so 2 years how many month have ?
- given that she pay $500 every month

so just multiplie the sum of month what get for 2 years by this needed paying sum of $500 and will get the correct answer

hope helped understandably

Answer 2

keep in mind it is asking about what kind of loan it is, not how much the loan costs.

here are the choices:

A. a fixed-rate loan
B. a variable-rate loan
C. a constant-rate loan

major hint: notice how she's paying the same amount each month

if you're still confused, review the difference between fixed and variablte rate loans

https://www.valuepenguin.com/loans/fixed-vs-variable-interest-rates#fixed