Hot Student Stories
top-5-grammar-and-spelling-checkers-to-rock-in-2019

What is a loan?

Dana Keller

in Student Loans

follow
followin
1 answer
1 view

1 answer


Dana Keller on May 11, 2018

Answer 1 . When you have something and you give it to someone else to use during a time of 'loan'. Therefore, "a loan" is the term used to describe an amount of money lent by a bank. You are expected to pay this money back, along with a little more money (called interest) over a fixed period of time that you will be in agreement with the bank.. When the money is given to you with the expectation of repayment with interest in it.. the Answer 2 . A loan is the same thing as "borrowing" or "having a lend". You can loan items such as books or cash.


Add you answer