Question

match each type of loan with the way it is most commonly used.
personal loans
auto loans
mortgage loans
credit cards
can be used to borrow a lump sum of money for an individual to use
can be swiped at stores to make immediate purchases on credit
can be used to obtain the funds to buy a vehicle
can be used to borrow money to purchase a house

Explanation:

• Personal loans: These are loans given to individuals, so they can be used to borrow a lump sum of money for an individual to use.
• Auto loans: As the name suggests, auto loans are specifically for purchasing vehicles, so they can be used to obtain the funds to buy a vehicle.
• Mortgage loans: Mortgage loans are used to finance the purchase of a house, so they can be used to borrow money to purchase a house.
• Credit cards: Credit cards are payment instruments that can be swiped at stores to make immediate purchases on credit.

Answer:

personal loans - can be used to borrow a lump sum of money for an individual to use
auto loans - can be used to obtain the funds to buy a vehicle
mortgage loans - can be used to borrow money to purchase a house
credit cards - can be swiped at stores to make immediate purchases on credit