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Explanation
The amount due every period by a borrower to a lender under a fixed-rate loan.
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A borrower may opt for a fixed interest rate if he is concerned that rates will be going up and if he is a more risk-averse investor.
A fixed interest rate is a type of loan or mortgage for which the rate of interest does not fluctuate over the life of the loan.
A fixed rate is of loan where an interest rate does not flactuate during a loan barrower are accurately during the predicit payments.
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