When Angelica started her own fabric company, she took out a loan from her local bank. Angelica took a second mortgage on her home as collateral for the loan. Which type of bank loan does this scenario best describe?
A) a secured loan
B) an unsecured loan
C) a line of credit
D) a credit rating loan
E) a prime rate loan
Correct Answer:
Verified
Q17: Pipe Supply Company offers its customers trade
Q18: A surfboard manufacturer orders 100 units of
Q19: Mauricio owns a catering business, and he
Q20: If Talia borrows $30,000 to buy a
Q21: Dawn owns a hair salon and wants
Q23: Which type of commercial loan offers an
Q24: When Mel's Mattress Company struggles financially, Mel
Q25: Bill's Travel Company provides inexpensive bus trips
Q26: Big Beverage Bottling Inc., a company that
Q27: Stitch and Sew is a garment manufacturing
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents