quiz question 1 of 8 which of the following best describes a loan? select a response. a type of insurance…

quiz question 1 of 8 which of the following best describes a loan? select a response. a type of insurance coverage for unexpected losses a borrower promises to repay money from a lender a government grant for education a tax deduction for mortgage interest payments

quiz question 1 of 8 which of the following best describes a loan? select a response. a type of insurance coverage for unexpected losses a borrower promises to repay money from a lender a government grant for education a 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 a non - repayable sum, and a tax deduction is related to reducing tax liability.

Answer:

B. A borrower promises to repay money from a lender