How Credit Works Answers

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

✔ secured loanunsecured loan

secured loan✔ unsecured loan

✔ secured loanunsecured loan

Lindsay took out a(n) [___] to purchase her new home.

creditprincipal✔ collateral

assetrepayment✔ down payment

✔ seize her homelower the interestask for a down payment

Question text not available

loan A✔ loan B

$7,367.32$15,000.00✔ $22,367.32

$9,857.02$10,000.00✔ $19,857.02

What will most likely happen if Tony continues to make late payments? Check all that apply.

Which statement best compares these two loans?

What should a consumer review and consider when shopping for a credit card? Check all that apply.

Which regulations do credit card companies have to follow? Check all that apply.They have to make all credit terms clear to the borrower.They have to accept any borrower who applies for a credit card.They are not allowed to change annual fees or interest rates.They have to obtain a borrower’s information in a responsible way.They cannot discriminate based on race, gender, or national origin.They have to avoid abusive marketing practices and protect privacy.

$7,367.32$10,000✔ $15,000