question 1 of 4\nwhich of the following best describes a loan?\na type of insurance coverage for unexpected…

question 1 of 4\nwhich of the following best describes a loan?\na type of insurance coverage for unexpected losses\na borrower promises to repay money from a lender\na government grant for education\na tax deduction for mortgage interest payments

question 1 of 4\nwhich of the following best describes a loan?\na type of insurance coverage for unexpected losses\na borrower promises to repay money from a lender\na government grant for education\na tax deduction for mortgage interest payments

Answer

Brief Explanations:

A loan is a financial arrangement where a borrower gets money from a lender and is obligated to repay it. Insurance coverage is for losses, a government - grant is non - repayable, and a tax deduction is related to mortgage interest, not the definition of a loan.

Answer:

B. A borrower promises to repay money from a lender