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CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY
Pretest
Question 1
1
lesson pretest
Multiple Choice
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Question 1 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY
What impact might an economic downturn have on a borrower’s fixed-rate mortgage?
Answer
A
It has no impact because the economy does not affect interest rates.
B
It might cause a borrower’s payments to go down.
C
It has no impact because a fixed-rate mortgage cannot change.
D
It might cause a borrower’s payments to go up.
Question 1
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