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Which type of credit typically offers payment plans of up to 30 years or more?
- home mortgage
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Which type of credit is used in place of money, allowing you to buy things now and pay for them later?
- credit card
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Which type of credit would you most likely use if you wanted to pay for a large home renovation?
- personal loan
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What do banks and other lenders use to evaluate your ability to repay a loan?
- credit score
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If Joan is unable to pay her mortgage, the bank may take her house away from her. Which of the following best describes Joan’s house?
- collateral
Which type of credit typically offers payment plans of up to 30 years or more? (1 point)
Responses
car loan
car loan
credit card
credit card
home mortgage
home mortgage
personal loan
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)
Responses
credit card
credit card
bankruptcy
bankruptcy
mortgage
mortgage
personal loan
Which type of credit would you most likely use if you wanted to pay for a large home renovation? (1 point)
Responses
car loan
car loan
credit card
credit card
personal loan
personal loan
student loan
What do banks and other lenders use to evaluate your ability to repay a loan?(1 point)
Responses
bankruptcy
bankruptcy
credit score
credit score
debit
debit
interest rate
If Joan is unable to pay her mortgage, the bank may take her house away from her. Which of the following best describes Joan’s house? (1 point)
Responses
bankruptcy
bankruptcy
collateral
collateral
credit
credit
interest
1 answer