QuestionElise has two loans: a \$20,000 fixed-rate at 4.5\% and a \$20,000 variable-rate at 4.15\%. Which is more predictable in total cost?

Studdy Solution
Comparing the two loans, Elise can more accurately predict the total amount she will have to pay for the first loan because it has a fixed interest rate. The total amount for the second loan cannot be accurately predicted because it has a variable interest rate.
Elise can more accurately predict the total amount she will have to pay for the first loan.