Q:

Which of the following loans will typically have the highest interest rate? A) Credit CardB) car loanC) mortgage D) payday loan

Accepted Solution

A:
[tex]\boxed{{\text{Payday loan}}}[/tex] will typically have the highest interest rate. Option (D) is correct. Further Explanation: Given: The options are as follows. (A) Credit card (B) Car loan (C) Mortgage (D) Payday loan Explanation: Payday loan has usually high interest rate as they are for very short term. The amount of payday loan is usually less. The payday loans are unsecured loan. An example of payday loan is borrowing money for short period of time. [tex]\boxed{{\text{Payday loan}}}[/tex] will typically have the highest interest rate. Option (D) is correct. Option A is not correct as the credit card loans don’t have the highest interest rate. Option A is not correct as the car loan don’t have the highest interest rate. Option A is not correct as the mortgage don’t have the highest interest rate. Option D is correct as the payday loan will typically have the highest interest rate. Learn more: 1. Learn more about inverse of the function. 2. Learn more about equation of circle brainly.com/question/1506955. 3. Learn more about range and domain of the function Answer details: Grade: High School Subject: Mathematics Chapter: Credit Risk Keywords: probably, bills, high balance, high credit, bills on time, depts., pay off depts., credit cards, debit cards, high credit score.