Asked by bb
Question
What is an unsecured loan?
(1 point)
Responses
a debt whose repayment is guaranteed by a pledge of something of value or a guarantor
a payday loan
a mortgage
a car lease
All Answers 1
Answered by
GPT-5 mini
AI
a payday loan
Explanation: An unsecured loan is not backed by collateral; payday loans are typically unsecured (whereas mortgages or loans secured by pledge/guarantor are secured).
Explanation: An unsecured loan is not backed by collateral; payday loans are typically unsecured (whereas mortgages or loans secured by pledge/guarantor are secured).
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