4 - 10. select all that apply to each type of credit. * 7 points i = installment r = revolving cbe = could…

Brief Explanations:

• Auto loan: Usually an installment - type loan, secured (the car is collateral), can have fixed or variable interest rates.
• Credit card: Revolving credit, can be secured or unsecured, usually has variable interest rates.
• Mortgage: Installment - type loan, secured (the property is collateral), can have fixed or variable interest rates.
• Payday loan: Installment or short - term lump sum (can be seen as a type of installment in some cases), usually unsecured, high - interest and often has a fixed rate for the short term.
• Personal loan from bank: Can be installment, secured or unsecured, fixed or variable rate.
• Small business loan from bank: Can be installment, secured or unsecured, fixed or variable rate.
• Student loan (Federal): Usually installment, unsecured, can have fixed or variable rates (though federal student loans often have fixed rates).

Answer:

• Auto loan: I, S, CBE, F or V
• Credit card: R, CBE, U or S, V
• Mortgage: I, S, CBE, F or V
• Payday loan: I, U, CBE, F
• Personal loan (from bank): I, CBE, U or S, F or V
• Small business loan (from the bank): I, CBE, U or S, F or V
• Student loan (Federal): I, U, CBE, F or V