Question

Match the type of loan to its correct purpose. 1. a loan used to pay for educational expenses, such as college tuition, books, and housing small-business loan 2. a loan used to purchase a new or used car student loan 3. a loan taken to make home improvements, among other reasons car loan 4. a loan that requires a high credit score and is used for many different things, such as medical expenses, a vacation, or to pay off a credit card home equity loan 5. a loan used to pay for start-up expenses when opening a company personal loan

Answer 1

1 student loan
2Car loan
3home improvement loans
4medical loans
5buisness loan /personal

Answer 2

-student loan

-Car loan

-home improvement loans

-medical loans

-business loan /personal

Explanation:

Loan are used for several things. they money borrowed to be returned at a certain date with specific interest rate.

1. a loan used to pay for educational expenses, such as college tuition, books, and housing small-business loan

-student loan

2. a loan used to purchase a new or used car student loan

Car loan

3. a loan taken to make home improvements, among other reasons car loan

-home improvement loans

4. a loan that requires a high credit score and is used for many different things, such as medical expenses, a vacation, or to pay off a credit card home equity loan

-medical loans

5. a loan used to pay for start-up expenses when opening a company personal loan

Personal/Business Loan