Question

Which person would most likely be in the market for a mortgage loan? Person A: I just got a great new job, so I want to buy a bigger house. I'd like to take out a big loan that I can pay off over a long time while I'm living in the new house. Person B: I want to buy a new video game, but I don't want to take out a real loan. I'd rather just get an advance on my next paycheck so I can buy the game right now. Person C: I just got into medical school, but the tuition is really expensive. I need to borrow some money to pay for school, and I'll pay it back after I start working as a doctor. Person D: I don't need to borrow money right now, but I want to have access to money whenever I might need it. It would be nice to be able to pay off some bigger purchases over time.​

Answer 1

Answer:

The answer is A

Explanation:

Mortgage loans are used for houses and real estate.

Answer 2

Person A would be most likely in the mortgage loan market.

What is a mortgage loan?

A mortgage loan is a type of borrowed amount taken from a lender for acquiring any kind of property.

Person A takes the mortgage loan from the market as he wants to acquire a new house. He is able to pay off the loan installments as he got a new job which shows that his financial status is good.

Therefore, the mortgage loan is most likely to be taken by Person A from the market.

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