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SCORPION-xisa [38]
2 years ago
9

Help needed soon

Business
1 answer:
hichkok12 [17]2 years ago
5 0

Secured and unsecured loans differ in cost because A secured loan typically has lower interest rates costing less; an unsecured loan typically has higher interest rates costing more.

<h3>How are secured and unsecured loans different?</h3>

A secured loan is one that is backed by the assets of the person being loaned the money. If the person is unable to pay, the asset is seized.

Unsecured loans are not backed by any assets which means that the lender will have nothing to claim in default. This makes these type of loans risky which is why they command more interest.

Find out more on unsecured loans at brainly.com/question/17077155.

#SPJ1

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3 years ago
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Leokris [45]

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