If you borrow $5000 for four years that would be a blank. a. short term loan. b. long term loan. c. critical loan. d. interest based loan

If you borrow $5000 for four years that would be a long term Loan.

In finance,

Short term = period less than one year or 365 days.

Long term = period more than one year or 365 days.

Here the man who is borrowing the money that is the borrower is borrowing $5000 for a period of four years which is greater than one year or 365 days. This is why it is a long term loan. In the personal balance sheet, this loan should be reflected under long term liabilities.

Mostly you require a CREDIT score to apply for a loan in bank. A good credit score is that which lies in the 580 to 669 range. Interest rates vary from bank to bank.