a person combines all her loans into one loan with a lower annual percentage rate (apr) resulting in lower…

a person combines all her loans into one loan with a lower annual percentage rate (apr) resulting in lower payments and a longer repayment period. this type of loan is called\n○ a mortgage loan.\n○ an equity loan.\n○ a collateralized loan.\n○ a consolidation loan.

a person combines all her loans into one loan with a lower annual percentage rate (apr) resulting in lower payments and a longer repayment period. this type of loan is called\n○ a mortgage loan.\n○ an equity loan.\n○ a collateralized loan.\n○ a consolidation loan.

Answer

Brief Explanations:

A consolidation loan combines multiple debts into one, often with a lower APR and longer repayment period. Mortgages are for property - related loans, equity loans use home equity as collateral, and collateralized loans require an asset as security. The described loan is a consolidation loan.

Answer:

a consolidation loan.