Hillary borrowed $2,000 from her credit union to purchase a new computer.This is an example of

Question

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This is an example of a cash loan because Hillary borrowed a specific amount of money ($2,000) directly, likely receiving the cash or a deposit to her account, which she then chose to use to purchase a new computer. Unlike a purchase loan or sales credit, which are tied directly to the item being bought and often involve the lender paying the seller directly, a cash loan provides the borrower with the funds to use as they see fit.

Hillary Borrowed $2,000 from Her Credit Union to Purchase a New