Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'step'?

A. A graduated payment loan in which increases in a borrowers loan payments are used to accelerate reduction of principal on the mortgage
B. a loan with fixed periodic payment/rate changes without subsidy or negative amortization.
C. a loan that allows the lender to periodically adjust the interest rate in accordance with a specified index
D. a flexible payment loan where the payments increase for a specified period of time and then level off

Answer: a loan with fixed periodic payment/rate changes without subsidy or negative amortization.