A loan in which the payments go up or down with movements in the index,is called a(n):

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An adjustable rate mortgage (ARM) is a type of loan in which the interest rate fluctuates with changes in the index, such as the prime rate or the Treasury bill rate. As a result, the monthly payment amount can go up or down accordingly. Graduated payment mortgages, buy down mortgages, and shared appreciation mortgages are all different types of loans with distinct payment structures that do not depend on changes in the index.

A Loan in Which the Payments Go Up or Down