Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

5. Which is not an example of long-term debt?

A. Credit card debt
B. Mortgage
C. Car loan
D. Student loan

Sagot :

GinnyAnswer

Final answer:

Credit card debt is not a long-term debt, while mortgages, car loans, and student loans are common examples of long-term debt.


Explanation:

Credit card debt is not an example of long-term debt. Long-term debt typically includes obligations like mortgages, car loans, and student loans that are paid back over an extended period, usually more than a year.

For example, a car loan is a type of long-term debt where the borrower agrees to repay the loan amount plus interest over a set period, often 3 to 7 years, to purchase a vehicle.

A mortgage is another common form of long-term debt that involves borrowing a large sum of money to buy a property, with repayment terms usually extending over 15 to 30 years.


Learn more about Types of long-term debt here:

https://brainly.com/question/43113801


Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.