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Identify the following whether the following illustrates a business loan or a consumer loan. _1. Mr. Lim wants to have another branch for his cellphone repair shop. He decided to apply for a loan that he can use to pay for the rentals of the new branch. 2. Mr. Trillas runs a trucking business. He wants to buy three more trucks for expansion of his business. He applied for a loan in a bank.

Identify the following whether the following illustrates a business loan or a consumer loan. _1. Mr. Lim wants to have another branch for his cellphone repair shop. He decided to apply for a loan that he can use to pay for the rentals of the new branch. 2. Mr. Trillas runs a trucking business. He wants to buy three more trucks for expansion of his business. He applied for a loan in a bank.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Identify the following whether the following illustrates a business loan or a consumer loan. 1. Mr. Lim wants to have another branch for his cellphone repair shop. He decided to apply for a loan that he can use to pay for the rentals of the new branch. 2. Mr. Trillas runs a trucking business. He wants to buy three more trucks for expansion of his business. He applied for a loan in a bank. 3. Mrs. Alonzo decided to take her family for a vacation. To cover the expenses, she decided to apply for a loan. 4. Glenn decided to purchase a condominium unit near his workplace. He got a loan worth P2,000,000. 5. Mr. Galang renovated her house forP80,000. This was made possible because of an approved loan worth P75,000.
Transcribed Image Text:Identify the following whether the following illustrates a business loan or a consumer loan. 1. Mr. Lim wants to have another branch for his cellphone repair shop. He decided to apply for a loan that he can use to pay for the rentals of the new branch. 2. Mr. Trillas runs a trucking business. He wants to buy three more trucks for expansion of his business. He applied for a loan in a bank. 3. Mrs. Alonzo decided to take her family for a vacation. To cover the expenses, she decided to apply for a loan. 4. Glenn decided to purchase a condominium unit near his workplace. He got a loan worth P2,000,000. 5. Mr. Galang renovated her house forP80,000. This was made possible because of an approved loan worth P75,000.
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