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Bill is a friend who is considering buying a house. He has asked you to explain the differences between a fixed-rate mortgage and an adjustable

Bill is a friend who is considering buying a house. He has asked you to explain the differences between a fixed-rate mortgage and an adjustable rate mortgage. In addition, he is considering whether he should take out either type of loan. How would you explain the differences between these two types of loans, and what considerations would you advice him to take into account in making his decision?

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