adjustable-rate loanin a sentence
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We got an adjustable-rate loan because it was cheaper, and we thought our income would be much higher later.
adjustable-rate loan = a loan in which the interest rate may vary over the term of the loan
- We should write a book: Amazing Amy and the Adjustable Rate Mortgage.† (source)
- I had a variable-rate mortgage on my apartment when the interest rate shot up five hundred percent in October.† (source)