Select the term associated with consumer loans that corresponds to each of the given descriptions. (Note:...

 

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Select the term associated with consumer loans that corresponds to each of the given descriptions. (Note: These are not necessarily complete definitions, but there is only one possible answer for each description.) Description Loan for expensive goods using the purchased items as collateral, such as home furnishings or snowmobiles Borrowing from one source to pay other creditors Used for nondurable expenditures and often granted based on a borrower's promise to repay the loan rather than using a specific asset as collateral to secure it Available for a child's undergraduate college studies, up to the full cost of attendance, with no specific dollar limit Loans to students for undergraduate or graduate studies Term Parent loans Grade It Now Save & Continue Continue without saving Select the term associated with consumer loans that corresponds to each of the given descriptions. (Note: These are not necessarily complete definitions, but there is only one possible answer for each description.) Description Loan for expensive goods using the purchased items as collateral, such as home furnishings or snowmobiles Borrowing from one source to pay other creditors Used for nondurable expenditures and often granted based on a borrower's promise to repay the loan rather than using a specific asset as collateral to secure it Available for a child's undergraduate college studies, up to the full cost of attendance, with no specific dollar limit Loans to students for undergraduate or graduate studies Term Parent loans Grade It Now Save & Continue Continue without saving

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Introduction Consumer loans are financial tools that individuals use to fund various personal expenses Each type of consumer loan serves specific purp... View the full answer