Asked by Marinda Carraway on Jun 14, 2024
Verified
Rita is planning to remodel her house. However, she does not have enough savings and does not wish to borrow from her family members. She chooses to seek the services of peer-to-peer sites. She visits FriendlyGesture, a site that allows people looking to borrow money find appropriate parties who can loan them the required amount at a certain agreed-upon rate. In the process, FriendlyGesture receives a fee of 2 percent of the loan amount. In this scenario, the site FriendlyGesture is a _____.
A) peer-to-peer lender
B) peer-to-peer recipient
C) peer-to-peer leaser
D) peer-to-peer distributer
Peer-to-Peer Lender
A financial arrangement where individuals lend and borrow money directly from each other, bypassing traditional financial institutions.
- Become familiar with the essential concepts and outcomes of the sharing economy and peer-to-peer models affecting numerous sectors.
Verified Answer
JK
Janelle KellyJun 18, 2024
Final Answer :
A
Explanation :
FriendlyGesture acts as a platform connecting borrowers and lenders directly, which is the definition of a peer-to-peer lender.
Learning Objectives
- Become familiar with the essential concepts and outcomes of the sharing economy and peer-to-peer models affecting numerous sectors.