Asked by Nguy?n Tr?ng on Jul 16, 2024
Verified
_____ are businesses that offer short-term loans at substantially higher rates of interest than banks.
A) Brokerage firms
B) Investment firms
C) Finance companies
D) Mutual fund providers
E) Insurance companies
Short-term Loans
Loans that are scheduled to be repaid in a short period, typically less than a year, used to address immediate financial needs or cash flow issues.
- Recognize the characteristics and functions of different financial institutions and services.
Verified Answer
CS
Cierra SampsonJul 17, 2024
Final Answer :
C
Explanation :
Finance companies specialize in short-term loans to consumers and businesses, often at higher interest rates than those offered by banks. These loans can include payday loans, installment loans, and other types of credit that are typically more expensive for the borrower.
Learning Objectives
- Recognize the characteristics and functions of different financial institutions and services.
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