Asked by Daisy Farhm on Jun 25, 2024
Verified
Garcia requires money to pay off debts that have been building up for a while. She chooses to borrow from an online money-lending site. She visits the site and enters the required amount along with the other necessary information and waits to hear from prospective lenders. The site that Garcia has used would receive a certain percentage of the loan amount as its fee. In this scenario, which of the following is Garcia most likely to use to find people who could give her the loan?
A) SoFi
B) WealthFront
C) Betterment
D) Ripple
Online Money-Lending Site
A digital platform that connects borrowers with lenders, facilitating loans and financial transactions over the internet.
Prospective Lenders
Individuals or financial institutions that are potential sources of loans or financial backing, still in the consideration or evaluation stage.
- Discern the features and positive aspects of different internet marketplace frameworks, such as consumer-to-consumer interactions and service leasing options.
Verified Answer
CV
Chuong Vu Duc DuyJul 01, 2024
Final Answer :
A
Explanation :
SoFi is a personal finance company that offers a range of lending and wealth management services, including personal loans, which fits the scenario described. WealthFront and Betterment are primarily robo-advisors for investing, and Ripple is a digital payment protocol, not a platform for personal loans.
Learning Objectives
- Discern the features and positive aspects of different internet marketplace frameworks, such as consumer-to-consumer interactions and service leasing options.