Multiple Choice
Shameika Olson owns a bookstore and has arranged a business loan with the bank where she has her business account.The terms of the loan allow her to borrow up to $12,000 within the next year.She must pay interest only on the unpaid loan balance.Olson has arranged which of the following?
A) a line of credit
B) a secured loan
C) a collateralized loan
D) a mortgage loan
Correct Answer:
Verified
Correct Answer:
Verified
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