When the market interest rate goes up,the rate on variable-rate loans goes up.

Name: When the market interest rate goes up,the rate on variable-rate loans goes up.
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Question

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When the market interest rate goes up, the rate on variable-rate loans also goes up as they typically have interest rates that are tied to a benchmark interest rate such as the prime rate or LIBOR. As the benchmark interest rate increases, so does the interest rate on the variable-rate loan.

When the Market Interest Rate Goes Up,the Rate on Variable-Rate