Answer:
C. A credit card is an example of revolving credit.
Step-by-step explanation:
Revolving credit is a type of credit that allows you to borrow up to a certain limit, and then pay back the borrowed amount over time. As you pay back the borrowed amount, the credit becomes available again for you to use. Credit cards are a common example of revolving credit, as you can use them to make purchases and then pay back the borrowed amount over time. Other examples of revolving credit include home equity lines of credit (HELOCs) and some types of personal loans.
A loan that uses collateral, such as a mortgage or car loan, is a type of secured loan. In this case, the borrower provides collateral, such as a house or car, as security for the loan. If the borrower fails to pay back the loan, the lender may be able to seize the collateral to recoup their losses.
A loan that does not use collateral, also known as an unsecured loan, is a type of loan that is not backed by any form of collateral. Examples of unsecured loans include personal loans and credit card loans.
A single-payment loan is a type of loan that requires the borrower to pay back the entire borrowed amount, plus any interest and fees, in a single payment at the end of the loan term. Examples of single-payment loans include payday loans and some types of title loans.