an example of open-end credit is a(n) ____

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Is installment credit considered closed-end credit. E installment loan for purchasing a major appliance.

Which of the following is an example of open-end credit.

. Installment loan from a furniture store. See the answer See the answer done loading. Open-end credit and Closed-end credit.

Which of the following is an example of open-end credit. A department store credit card c. Examples of open-end loans are credit cards and a home equity line of credit or HELOC.

An automobile loan b. Ebony saw the ad for 30 days same as cash and thought this option would work well for her. Open-end credit is a line of credit that may be used up to a specific preset limit.

An open credit is a financial arrangement between a lender and a borrower that allows the latter to access credit repeatedly up to a specific maximum limit. Credit cards are an example of revolving open-end credit 8. Chapter 05 - Consumer Credit.

Installment loan for purchasing furniture D. A good example of an open-end credit is A the use of a bank credit card to make a purchase. Is a sort of credit that must be paid back in full.

Yes an installment loan is a perfect example of closed-end credit since the amount must. 147 Which of the following is an example of open-end credit. E installment loan for purchasing a major appliance.

Laminiaduo7 and 9 more users found this answer helpful. Automobile loan from a credit union. The mortgage loan from a savings and loan institution.

D installment loan from a furniture store. Which of the following is an example of open-end credit. An example of open-end credit is mortgage loans as there are specific open end mortgage loans available so correct option will be C mortgage loans Automobile loans and revolving check credit are closed ended loans.

B the mortgage loan from a savings and loan institution. Who are the experts. Department store credit card C.

B the mortgage loan from a savings and loan institution. Any sort of loan that allows you to make several withdrawals and repayments is known as open-end credit. An arrangement for borrowing from a bank where money can be taken and paid back up to an agreed.

In the consumer market home equity loans are an example of an open-end credit which allows homeowners to access funds based on the level of equity in the homes. A line of credit is a type of open-end credit. Installment loan for purchasing a major appliance.

An example of conventiona View the full answer. An unsecured open-end loan is a line of credit thats not attached to a piece of collateral. Advantages Disadvantages Sources and Costs 68.

There is no grace period. One source of credit is retail stores which are department stores macys neiman marcus that will give you a card that you can use only at that store. There are several types of open-end credit.

D installment loan from a furniture store. A credit bureau is required to follow reasonable procedures to make sure that. A borrower is a credit card holder who does not pay off his or her balance in full each month TF.

AAn automobile loan BA department store credit card CAn installment loan for purchasing furniture. It is sometimes referred to as revolving credit. A good example of an open-end credit is A the use of a bank credit card to make a purchase.

This type of credit in which monthly. A ____ of credit is an example of an open-end credit. Straight Average Daily Balance Method is the most expensive for the consumer.

The use of a bank credit card to make a purchase. Credit cards home equity loans personal lines of credit and bank account overdraft protection are all examples. An arrangement for borrowing from a bank where money can be taken and paid back up to an agreed.

With open-end credit you receive a credit line with a limit that you can draw from as needed only paying interest on what you borrow. Periodic payments are made until the loan is paid. Under a line of credit agreement the consumer takes out a loan that allows payment for expenses using special checks or increasingly a plastic card.

Another source of credit is credit card companies like visa mastercard American express and discover. A mortgage loan d. How Open-End Credit Works.

As you repay what youve borrowed you can draw from the credit line again and again. A department store credit card. The information in a persons file is correct.

Different Ways to Calculate 1. A direct loan for personal purposes home improvements or vacation expenses is called. Common examples of open-end credit are credit cards and lines of credit.

A good example of an open-end credit is A. C automobile loan from a credit union. C automobile loan from a credit union.

Open End Credit This is a type of credit loan paid on installments in which the total amount borrowed may change over time and is fixed. A Single lump sum of credit B An installment loan for purchasing furniture C A mortgage loan D A department store credit card E An automobile loan.

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