which best describes the difference between secured and unsecured loans? select a response. secured loans…

which best describes the difference between secured and unsecured loans? select a response. secured loans require collateral, while unsecured loans do not secured loans usually have higher interest rates than unsecured loans secured loans do not appear on your credit report, while unsecured are reported secured loans have more flexible payment plans than unsecured loans

which best describes the difference between secured and unsecured loans? select a response. secured loans require collateral, while unsecured loans do not secured loans usually have higher interest rates than unsecured loans secured loans do not appear on your credit report, while unsecured are reported secured loans have more flexible payment plans than unsecured loans

Answer

Answer:

Secured loans require collateral, while unsecured loans do not

Brief Explanations:

In finance, secured loans are backed by an asset (collateral), like a house or car. Unsecured loans lack such collateral, relying solely on the borrower's credit - worthiness.