AnswersFL-2102310-EconomicsHow Credit Works

How Credit Works Answers

12 verified answers3 views
1
Free Preview

Zachary’s student loans are an example of what type of loan?

A
auto loan
B
mortgage loan
C
secured loan
D
unsecured loan
122663
Free Preview

✔ secured loanunsecured loan

Answers:
A loan that is less risky for a lender and is associated with a valuable asset is called a(n) .:secured loan
Rayna needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be collected. This means she has received a(n) .:unsecured loan
Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house. He has received a(n) .:secured loan
122664

secured loan✔ unsecured loan

A
secured loan
B
unsecured loan
122665

✔ secured loanunsecured loan

A
secured loan
B
unsecured loan
122668

personal loan✔ mortgage loanunsecured loan

A
personal loan
B
mortgage loan
C
unsecured loan
122669

creditprincipal✔ collateral

A
credit
B
principal
C
✔ collateral
122670

assetrepayment✔ down payment

A
asset
B
repayment
C
✔ down payment
122671

✔ seize her homelower the interestask for a down payment

A
✔ seize her home
B
lower the interest
C
ask for a down payment
122672

Question text not available

Answers:
The principal of loan A is .:$15,000
Which loan has a higher annual percentage rate?:loan B
What will be the total repayment for loan A, including interest?:$22,367.32
What will be the total repayment for loan B, including interest?:$19,857.02
122673

loan A✔ loan B

A
loan A
B
loan B
122674

$7,367.32$15,000.00✔ $22,367.32

A
$7,367.32
B
$15,000.00
C
$22,367.32
122675

$9,857.02$10,000.00✔ $19,857.02

A
$9,857.02
B
$10,000.00
C
$19,857.02

Did you find these answers helpful?

More from this Course

Assignment
10 verified answers

Principles of Investment

Assignment
10 verified answers

How Credit Works

Assignment
5 verified answers

Assignment