Question

What do you call an arrangements of receiving money, goods, or services now in exchange for the promise of payment later? A. Collateral B. Interest C. Credit

Answer 1

I'm pretty sure the answer you're looking for is C, credit.

Answer 2

That is the definition of credit.

Collateral is borrowing money and giving someone an asset of yours worth the same or more value until you replay that money.

Interest is gaining money over time off your existing money.