question 4 of 8\nelliott renovates his home using a loan that requires him to sign over the title to his car…

question 4 of 8\nelliott renovates his home using a loan that requires him to sign over the title to his car if he doesnt pay as promised. what type of loan does elliott have?\nselect a response.\n○ education loan\n○ interest - free loan\n○ secured loan\n○ unsecured loan

question 4 of 8\nelliott renovates his home using a loan that requires him to sign over the title to his car if he doesnt pay as promised. what type of loan does elliott have?\nselect a response.\n○ education loan\n○ interest - free loan\n○ secured loan\n○ unsecured loan

Answer

Brief Explanations:

A secured loan is one where the borrower pledges an asset (collateral) to the lender. Here, Elliott's car title is pledged as collateral in case of non - payment. Education loans are for educational expenses, interest - free loans have no interest, and unsecured loans don't require collateral.

Answer:

Secured loan