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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

The Power of Lending

Choose a study mode

Podcast

Questions and Answers

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

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

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

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

What does APR include when it comes to loans?

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