Question

Pete wants a loan of $1500. which of these terms describes the money he wants to borrow? A) principle B) collateral C) credit

Answer 1

hint:

principle = the amount of money being lent
collateral = a piece of property used to secure a loan
credit = a claim that that a certain amount of money will be repaid at a future date

Answer 2

b

Answer 3

not b, take a closer look at what the question is asking. 1500 is the amount being lent