A closed-ended loan is
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O a business loan.
O a loan that can be used over and over.
O a loan that is for single use.
O a personal loan.

a loan that is for single use.

Explanation:

A closed-ended loan is being given for a fixed time period and needs to be paid back through fixed monthly installments and within that fixed time period. And these kinds of loans are paid in one time by banks and are for single use. Like in case you need to buy a car. or loans like mortgages, and payday or appliance loans come under this category. All these are paid by the bank in one time, but for a fixed time period, and with the condition that it should be paid back through fixed monthly installments, and within the fixed time limit.

answer; (c) series 3; i believe this is the correct answer. good luck

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