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18 July, 06:48

Gordon makes a trip to his financial institution one morning. He has conducted all of his banking transactions at the institution for more than twenty years. Today he walks out with a loan on his new home and one for a new boat. What method of financing has Gordon secured

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  1. 18 July, 09:41
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    Answer: Commercial financing

    Explanation: In simple words, commercial financing refers to the financing by the banks or other such financial institution. The financing is done by banks in the form of loans which are secured by any relative assets. However, banks sometimes lends on the basis of cash flows.

    In the given case, Gordon took a loan from the financial institution for a new home and a boat.

    Hence from the above we can conclude that Gordon has used commercial financing.
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