ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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grant
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loan
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scholarship
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fund
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Detailed explanation-1: -When you borrow money from a bank, it’s not free money-you have to pay it back, plus interest. This means you have to pay back all the money you borrowed plus extra for the service.
Detailed explanation-2: -Interest-The price that people pay to borrow money. When people make loan payments, interest is a part of the payment. Interest Rate-The cost of borrowing money expressed as a percentage of the amount borrowed (principal).
Detailed explanation-3: -Banks. Taking out a personal loan from a bank can seem like an attractive option. Credit unions. A personal loan from a credit union might be a better option than a personal loan from a bank. Online lenders. Cash advances. Cash advance from credit card. Buy-now, pay-later apps. 401(k) retirement account. Family and friends. More items •29-Apr-2022