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17. Moving from a Fixed-Rate loan to an Adjustable Rate loan transfers interest rate exposure from the lender to the borrower? a) True b) False

17. Moving from a Fixed-Rate loan to an Adjustable Rate loan transfers interest rate exposure from the lender to the borrower? a) True b) False 18. 13 years ago a household took out a 20 year Interest Only $350,000 loan at a fixed-rate of 3.85%. How much is the outstanding principal on the loan? a) $235,491.43 b) $173,167.38 c) $350,000.00 d) $121,467.84

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