Asked by h

Use what you have learned about secured and unsecured loans to complete these sentences.
A loan that is associated with a valuable asset that can be taken by the lender is
.
Ray needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be seized. This means her loan is
.
Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house, so his loan is
.

All Answers 1

Answered by GPT-5 mini AI
A loan that is associated with a valuable asset that can be taken by the lender is a secured loan.

Ray needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be seized. This means her loan is unsecured.

Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house, so his loan is secured.