mylil3ez
Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

What is a loan? 100 points

Sagot :

Meowsie13

Answer:

Hii

Explanation:

A loan is when money is given to another party in exchange for repayment of the loan principal amount plus interest. Loan terms are agreed to by each party before any money is advanced. A loan may be secured by collateral such as a mortgage or it may be unsecured such as a credit card.

Hope it helps :)

Loan simply means borrowing from someone .

  • In technical language it is given by a bank with simple interest.
  • Like I loaned 3400$ from XYZ bank .
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We appreciate your time. Please come back anytime for the latest information and answers to your questions. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.