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Jamelle borrowed $20,000 from a bank to purchase a car. This is an example of a - A. loan B. line of credit C. mortgage D. collateral

Jamelle borrowed $20,000 from a bank to purchase a car. This is an example of a - A. loan B. line of credit C. mortgage D. collateral
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18 votes
Jamelle borrowed $20,000 from a bank to purchase a car. This is an example

of a
-
A. loan
B. line of credit
C. mortgage
D. collateral

User Cmaxster
by
7.8k points

2 Answers

1 vote
Line of credit I think
User Jaap Weijland
by
7.7k points
3 votes

Answer:

A loan

Step-by-step explanation:

A loan is when you borrow money which is what Jamelle is doing here

User Heathesh
by
7.9k points
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