What is a variable rate loan?

Answer When you borrow money, your lender typically requires you to pay back additional money known as interest, which is based on a percentage of the amount borrowed. A variable rate is one type of inter... Read More »

Top Q&A For: What is a variable rate loan

Construction Loan Rate Vs. Permanent Loan Rate?

Construction loan rates for residential mortgages are computed differently than the rates for permanent loans. Construction loan rates are not fixed but "float" up or down during the construction p... Read More »

Variable Rate Vs. Fixed Rate?

An interest rate is the cost incurred for borrowing funds from a lender, such as a bank or a business. Examples include interest charged on mortgage loans, business loans, credit cards and personal... Read More »

Would the base used to calculate the variable overhead rate be the same as the fixed overhead rate?

Yes. Calculate the variable overhead rate by dividing variable overhead by production to get a variable overhead per unit rate. Calculate the fixed overhead rate by dividing the fixed overhead by p... Read More »

How can I get rid of my private student loan and switch to a federal loan with a lower interest rate?

Call the US Department of Education because sometimes they will buy your loan off and then you can pay them instead. I have a student loan through the Dept. of Ed. and my interest is only 2%. Cal... Read More »