Question

Ryan is thinking about pawning his watch to get some quick money to pay his bills. if he gets the money from the pawnbroker, what type of loan will it most likely be.

nvm it was a single payment loan.

Answer 1

It is single payment loan for Apex :))

Answer 2

The correct answer is a single payment loan.
This means that he will pawn his watch to a pawnbroker, who will pay him the entire sum immediately, without having to use monthly installments or something like that. A single payment loan refers to the payment of the entire principal sum at that particular moment when the loan is taken.