One of your customers has just made a purchase in the amount of $20,800. You have agreed to payments of $375 per month and will charge a monthly interest rate of 1.17 percent. How many months will it take for the account to be paid off?

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

The answer would be b.

Nothing will happen.maybe some more oxygen will be saved.but the answer is no.