Answers2027 Ignite Financial Literacy-Personal Finance - EL3403Credit and Loans

Credit and Loans Answers

13 verified answers3 views
1
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a secured loan an unsecured loan

A
a secured loan
B
an unsecured loan
2
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a secured loanan unsecured loan

A
a secured loan
B
an unsecured loan
3

a secured loan an unsecured loan

A
a secured loan
B
an unsecured loan
4

Which of the following are more likely to happen if you have bad credit? Check all that apply.being denied a mortgagebeing denied an unsecured credit cardhaving to pay higher interest rates on loansgetting a great interest rate on a car loanhaving a strategy for dealing with a financial emergency

A
being denied a mortgage
B
being denied an unsecured credit card
C
having to pay higher interest rates on loans
D
getting a great interest rate on a car loan
E
having a strategy for dealing with a financial emergency
5

✔ a secured loanX an unsecured loan

Answers:
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:a secured loan
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:an unsecured loan
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:a secured loan
6

Bruce borrowed $1,000 for his trip.If Bruce waits for five years to begin paying back his loan, how much will he owe?

A
$1,200
B
$1,300
C
$1,500
D
$1,800
7

Which of the following are more likely to happen if you have bad credit? Check all that apply.being denied a mortgagebeing denied an unsecured credit cardhaving to pay higher interest rates on loansgetting a great interest rate on a car loanhaving a strategy for dealing with a financial emergency

A
being denied a mortgage
B
being denied an unsecured credit card
C
having to pay higher interest rates on loans
D
getting a great interest rate on a car loan
E
having a strategy for dealing with a financial emergency
8

Use what you have learned about managing credit to complete these sentences.

Answers:
Filing for bankruptcy can debt.:eliminate
A major consequence of bankruptcy is that it can an individual's chances of receiving additional credit.:harm
9

Bruce borrowed $1,000 for his trip.If Bruce waits for five years to begin paying back his loan, how much will he owe?

A
$1,251.10
B
$1,310.21
C
$1,610.51
D
$1,810.71
10

X a secured loan✔ an unsecured loan

A
X a secured loan
B
✔ an unsecured loan
11

A major consequence of bankruptcy is that it can an individual's chances of receiving additional credit.

A
help
B
harm
12

✔ a secured loan an unsecured loan

A
✔ a secured loan
B
an unsecured loan
13

Question text not available

Answers:
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:a secured loan
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:an unsecured loan
Use what you have learned about secured and unsecured loans to complete these sentences.A loan that is associated with a valuable asset that can be taken by the lender is . Ray needs to get a new set:a secured loan

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