Sam is planning to start a pool cleaning business from his home. He has developed the following cost analysis for the set-up and operation for the first year of his business. He has $9,000 in savings and $23,000 in credit that he can use for the business. Will Sam be able to afford the operational costs of the first year of business on his own?

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

D. want to invest in mexico and cause the exchange rate to fall. * i just did the quiz & got the answer right! (edgenuity) *