4. which of the following is most likely to represent a fixed rate, secured debt? *\na student loan\na…
4. which of the following is most likely to represent a fixed rate, secured debt? *\na student loan\na credit card\na prepaid debit card\nan auto loan
Answer
Brief Explanations:
A student loan can have variable or fixed - rates and may or may not be secured. A credit card is typically unsecured debt with variable interest rates. A prepaid debit card is not debt at all. An auto loan is often a fixed - rate, secured debt as the vehicle is used as collateral.
Answer:
D. An auto loan