Mortgage payments and student loans are examples of... A) assets B) credit C) collateral Eliminate D) income

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1 answer:

slavikrds [6]2 years ago

6 0

Mortgage payments, as well as student loans, are classified as credit.

It should be noted that assets are belongings, what one owns, since loans and periodic payments thereon are examples of borrowing or credit, it means assets cannot be obligations, as a result, the option with assets is not relevant in this case.

Secondly, credit means what one owes, obligations that one would make payments in order to discharge them in the future, without mincing words, mortgage payments and student loans fit into this categorization, the correct option, in this case, is option B

Also, collateral is required as a form of equity or contribution when one takes out a loan to finance the purchase of an asset.

Lastly, income refers to earnings and borrowings are not related to income, making it safe to conclude that option D is also nonapplicable to the question at hand.

Kindly find a detailed explanation of credit in the link provided below:

https://brainly.in/question/862848

#SPJ1

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