quiz\nquestion 1 of 8\nwhich of the following best describes a loan?\nselect a response\na type of insurance…

quiz\nquestion 1 of 8\nwhich of the following best describes a loan?\nselect a response\na type of insurance coverage for unexpected losses\na borrower promises to repay money from a lender\na government grant for education\na tax deduction for mortgage interest payments

quiz\nquestion 1 of 8\nwhich of the following best describes a loan?\nselect a response\na type of insurance coverage for unexpected losses\na borrower promises to repay money from a lender\na government grant for education\na tax deduction for mortgage interest payments

Answer

Brief Explanations:

A loan is a financial arrangement where a borrower takes money from a lender with the obligation to repay it, often with interest. Insurance coverage is for losses, a government - grant is non - repayable, and a tax deduction is related to reducing tax liability, not a loan.

Answer:

B. A borrower promises to repay money from a lender