is an annual interest rate the same as a fixed interest rate?

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is an annual interest rate the same as a fixed interest rate?

2007-06-19 03:54:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit

3 answers

No. An interest rate can be fixed or variable.

2007-06-19 04:25:28 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋

If you have a stated annual interest rate, it tends to be fixed. However, there could be a variable interest rate that could be applied to your account if they are adding point to the prime interest rate.

2007-06-19 12:40:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋

Interest rates are fixed or variable and are both annual.
Generally speaking, installment loans are fixed and revolving lines are variable.

2007-06-23 08:55:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋