Mary is buying a house.She issues a promissory note for the unpaid balance on the house that is secured by a mortgage on the house.The promissory note is called a(n)

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Mary is issuing a promissory note for the unpaid balance on the house that is secured by a mortgage on the house, which is known as a mortgage note. A certificate of deposit is a savings instrument issued by a bank, a cashier's check is a check drawn on a bank's account, and an installment note is a type of loan that involves paying back the borrowed amount in regular installments.

Mary Is Buying a House