Question

Mortgage payments and student loans are examples of... (1 point)
assets
credit
• collateral
• income

Which type of credit typically offers payment plans of up to 30 years or more?
(1 point)
• car loan
credit card
home mortgage
• personal loan

Which type of credit is used in place of money, allowing you to buy things now and pay for them later? (1 point)
credit card
bankruptcy
mortgage
• personal loan

Which type of credit would you most likely use if you wanted to pay for a large home renovation? (1 point)
car loan
• credit card
• personal loan
• student loan

Answer 1

1. Mortgage payments and student loans are examples of...
**credit**

2. Which type of credit typically offers payment plans of up to 30 years or more?
**home mortgage**

3. Which type of credit is used in place of money, allowing you to buy things now and pay for them later?
**credit card**

4. Which type of credit would you most likely use if you wanted to pay for a large home renovation?
**personal loan**