Answered

IDNLearn.com makes it easy to find precise answers to your specific questions. Get step-by-step guidance for all your technical questions from our knowledgeable community members.

Choose the correct term from each box to complete the statement about consumer loans.

A _______ would be appropriate to use for the construction of your new kitchen because you have an estimate of the cost, while a _______ would be best to use for any unplanned expenses that may come up during the remodeling process.

Sagot :

GinnyAnsweridn

Final answer:

Consumer loans can be secured or unsecured, impacting the interest rates. Understanding the differences helps in making informed borrowing decisions.


Explanation:

Consumer loans can be categorized into types such as secured loans and unsecured loans. A secured loan is backed by collateral, such as a home or car, providing lower interest rates, while an unsecured loan doesn't require collateral but typically comes with higher interest rates due to the risk involved.


Learn more about Consumer loans here:

https://brainly.com/question/32532716


Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.