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Answered

Semaj recently got approved for a $350,000 mortgage loan. What type of consumer credit is his mortgage loan?

A. installment
B. investment
C. expense
D. revolving



Answer :

GinnyAnswer

Final answer:

Semaj's mortgage loan is categorized under installment credit.


Explanation:

Installment credit is the type of consumer credit that Semaj's mortgage loan falls under. An installment credit is a loan with a fixed number of payments, while a mortgage loan typically involves regular payments over an extended period to pay off a home loan.


Learn more about consumer credit here:

https://brainly.com/question/29632930


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