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What does 'fixed term' mean?



 
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What does 'fixed term' mean? Mon Jan 10, 2005 19:13 pm  What does 'fixed term' mean?
 

Test No. incompl/advan-9 "Finance (1)", question 10

The loan you have taken out is for a ......... term, which in your case is 5 years.

(a) steady
(b) fixed
(c) long
(d) exact

Test No. incompl/advan-9 "Finance (1)", answer 10

The loan you have taken out is for a fixed term, which in your case is 5 years.

Correct answer: (b) fixed

Your answer was: incorrect
The loan you have taken out is for a steady term, which in your case is 5 years.
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what is the meaning of fixed in the sentence?
angies
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Fixed term Mon Jan 10, 2005 19:53 pm  Fixed term
 

A fixed term in the given sentence is a predefined period of time.
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