Mortgage payments and student loans are examples of... (1 point)
Responses
assets
credit
collateral
income
explain which is correct
1 answer
The correct answer is "credit." Mortgage payments and student loans are examples of credit because they involve borrowing money with the promise to repay it over time. These payments are a form of debt that must be repaid according to the terms of the loan agreement. Assets are items of value that can be used to secure a loan (collateral), and income is the money earned from work or investments that can be used to make loan payments.