An interest rate that is low for only a short period of time is called a(n)
A) teaser rate.
B) annual percentage rate.
C) balloon payment.
D) balance transfer fee.

Question

Quizplus · Accepted Answer

A low interest rate offered for a short period of time is commonly referred to as a "teaser rate." This type of rate is often used to entice customers to apply for a credit card or take out a loan, but the rate will typically increase after the introductory period ends.

An Interest Rate That Is Low for Only a Short