Question

What is an example of credit? A) A person withdraws money from a bank account using an ATM card. B) A person borrows money from a finance company to buy a car. C) A person deposits a paycheck into a savings account. D) A person pays interest on an existing mortgage.

Answer 1

Answer:

b

Explanation:

An example of credit is when a person borrows money from a finance company to buy a car. Once credit is extended to a person and is used for a purchase, the credit is converted to a debt, and the person has the financial obligation to repay the loan.

Answer 2

B) A person who borrows money from a finance company to buy an car