If you borrow money from a lender and agree to pay it back later, you have a

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Prepare for the 6th Grade Financial Literacy Test. Utilize engaging activities, flashcards, and multiple choice questions with explanations. Enhance your financial literacy skills and ace your test with confidence!

Multiple Choice

If you borrow money from a lender and agree to pay it back later, you have a

Explanation:
A loan is money you borrow from a lender with the agreement to pay it back later, usually with interest. This matches the idea of borrowing now and repaying in the future. The other options describe different things: salary is money you earn from work, taxes are payments to the government, and a check register is a record of checks you’ve written. For example, borrowing $50 from the bank and paying it back later is a loan.

A loan is money you borrow from a lender with the agreement to pay it back later, usually with interest. This matches the idea of borrowing now and repaying in the future.

The other options describe different things: salary is money you earn from work, taxes are payments to the government, and a check register is a record of checks you’ve written. For example, borrowing $50 from the bank and paying it back later is a loan.

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