What is a peer-to-peer loan? (1 point) Responses a loan from one entity electronically matched to another entity without a financial institution in the middle a loan from one entity electronically matched to another entity without a financial institution in the middle a short-term loan at high interest rates initiated by a worker who needs cash immediately a short-term loan at high interest rates initiated by a worker who needs cash immediately a loan given without review of the borrower’s credit report or credit score a loan given without review of the borrower’s credit report or credit score a type of loan where the title to an asset is used as collateral
The correct response is: a loan from one entity electronically matched to another entity without a financial institution in the middle.
A peer-to-peer loan is a loan from one entity electronically matched to another entity without a financial institution in the middle.
A peer-to-peer loan is a type of loan where one entity electronically matches with another entity without involving a financial institution in the middle. It is a direct lending approach where individuals can borrow money from other individuals without going through traditional banks or credit institutions. P2P lending platforms facilitate these transactions by connecting borrowers and lenders online. These platforms provide a marketplace where borrowers can request a loan and lenders can choose to fund them. The loan terms, interest rates, and repayment terms are negotiated between the borrower and the lender.
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 debt whose repayment is guaranteed by a pledge of something of value or a guarantor a payday loan a payday loan a mortgage a mortgage a car lease
The correct response is: a debt whose repayment is guaranteed by a pledge of something of value or a guarantor.
What kind of loan is a federal student loan? (1 point) Responses a revolving line of credit a revolving line of credit an unsecured collateral loan an unsecured collateral loan an unsecured installment loan an unsecured installment loan a secured personal loan
The correct response is: an unsecured installment loan. Federal student loans are a type of unsecured loan where the borrower does not need to provide collateral or a guarantor in order to qualify for the loan. These loans are typically used to fund educational expenses and have fixed interest rates and repayment terms.
How does decreasing your credit card balance affect your income statement?(1 point) Responses It increases your monthly expenses, increasing the amount you spend each month. It increases your monthly expenses, increasing the amount you spend each month. It increases your monthly expenses, giving you more money to spend on other things. It increases your monthly expenses, giving you more money to spend on other things. It decreases your monthly expenses, increasing the amount you spend each month. It decreases your monthly expenses, increasing the amount you spend each month. It decreases your monthly expenses, giving you more money to spend on other things.
None of the provided responses accurately describe how decreasing your credit card balance affects your income statement. Decreasing your credit card balance does not directly impact your income statement, which is a financial statement that shows your income, expenses, and net profit or loss over a specific period. Your credit card balance is related to your liabilities and personal finances, but it does not directly impact your income statement.
What should you do before you complete your net worth statement?(1 point) Responses Redistribute the investments in your retirement account. Redistribute the investments in your retirement account. Decide what, if anything, you are going to leave to your children in your will. Decide what, if anything, you are going to leave to your children in your will. Complete your income statement. Complete your income statement. Determine or estimate the current value of everything you own.
