Question

Use what you have learned about secured and unsecured loans to complete these sentences. a loan that is associated with a valuable asset that can be taken by the lender is . ray needs to get a new set of tires for her car, so she uses her credit card. if she does not pay her bills, there is no asset that can be seized. this means her loan is . jack agrees to take out a mortgage. if he fails to make his payments, the bank may repossess his house, so his loan is .

Answer 1

A loan that is associated with a valuable asset that can be taken by the lender is  a secured loan.

Ray's loan is unsecured.

Jack's mortgage is a secured loan.

What are secured and unsecured loans?

A secured loan is a loan that is backed up by an asset. If the borrower defaults on the loan,the lenfer can take possesion of the asset. An unsecured loan is a loan that is not backed up by any asset.

An unsecured loan is more risky than a secured loan. Thus, unsecured loans have a higher rate of interest.

To learn more about unsecured loans, please check: brainly.com/question/8347317

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