fixed rate

Definition of "fixed rate"
  1. Refers to a constant percentage, often in the context of interest, that doesn't change over time
How to use "fixed rate" in a sentence
  1. The fixed rate on their loan allowed them to confidently budget for future payments.
  2. Even though inflation increased dramatically, the fixed rate for their savings account remained the same.
  3. Choosing a fixed rate on the mortgage greatly reduced the financial uncertainty during the loan's term.

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