select the correct answer. howards bank gave him a personal loan because they found him creditworthy. which…

select the correct answer. howards bank gave him a personal loan because they found him creditworthy. which type of loan did howard get? a. a secured loan b. an unsecured loan c. a variable - rate loan

select the correct answer. howards bank gave him a personal loan because they found him creditworthy. which type of loan did howard get? a. a secured loan b. an unsecured loan c. a variable - rate loan

Answer

Brief Explanations:

Unsecured loans are given based on credit - worthiness without the need for collateral. Since Howard was given a loan because he was creditworthy, it is an unsecured loan. Secured loans require collateral, and the question doesn't mention anything about the interest - rate type for it to be a variable - rate loan.

Answer:

B. an unsecured loan