question 1 of 4 which of the following best describes a loan? a type of insurance coverage for unexpected…

question 1 of 4 which of the following best describes a loan? a type of insurance coverage for unexpected losses a borrower promises to repay money from a lender a government grant for education a tax deduction for mortgage interest payments

question 1 of 4 which of the following best describes a loan? a type of insurance coverage for unexpected losses a borrower promises to repay money from a lender a government grant for education a tax deduction for mortgage interest payments

Answer

Brief Explanations:

A loan is a financial arrangement where a borrower takes money from a lender and has an obligation to repay it. Insurance coverage is for losses, a government - grant is non - repayable, and a tax deduction is related to mortgage interest, not the definition of a loan.

Answer:

B. A borrower promises to repay money from a lender