The owner of a newsprint business would like to approach her bank to finance the purchase of a high speed cutting machine.What type of arrangement should make with her bank?
A) line of credit
B) mortgage
C) term loan
D) credit card increase

Question

Quizplus · Accepted Answer

A term loan would be the best choice for financing the purchase of a high speed cutting machine as it provides a specific amount of money that is to be repaid over a fixed period of time with a predetermined interest rate. This type of loan is typically used for major purchases and investments in business equipment or property.

The Owner of a Newsprint Business Would Like to Approach