Question

select all that apply
which of the following are examples of consumer loans?
□ line of credit
□ furniture loan
□ mortgage
□ automobile loan

Explanation:

Consumer loans are funds borrowed by individuals for personal, family, or household purposes. A line of credit can be used for personal expenses, a furniture loan finances personal furniture purchases, a mortgage funds a personal home purchase, and an automobile loan finances a personal vehicle purchase—all fit the definition of consumer loans.

Answer:

• Line of credit
• furniture loan
• mortgage
• automobile loan