The Power of Lending

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Questions and Answers

Which type of lender is backed by collateral, such as a car or a house?

  • Commercial Banks (correct)
  • Predatory Lenders
  • Online Lenders
  • Credit Unions

What type of loan is not backed by collateral and typically has higher interest rates?

  • Car Loan
  • Mortgage
  • Personal Loan
  • Credit Cards (correct)

What type of lender connects borrowers with individual lenders through an online platform?

  • Credit Unions
  • Online Lenders
  • Peer to Peer Lending Platforms (correct)
  • Commercial Banks

What type of lender charges high interest rates and often takes advantage of vulnerable borrowers?

<p>Predatory Lenders (A)</p> Signup and view all the answers

What does APR include when it comes to loans?

<p>Interest rate and all charges (D)</p> Signup and view all the answers

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