an example of open-end credit is a(n) ____
The mortgage loan from a savings and loan institution. Who are the experts.
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. With a closed-end loan you borrow a specific amount of money for a set period of time. Installment loan from a furniture store. To better understand open-end credit it helps to know what closed-end credit means.
An arrangement for borrowing from a bank where money can be taken and paid back up to an agreed. A department store credit card. Which of the following is an example of open-end credit.
Automobile loan from a credit union. C automobile loan from a credit union. D installment loan from a furniture store.
A good example of an open-end credit is A the use of a bank credit card to make a purchase. An example of open-end credit is credit card which is very common because it gives easy. B the mortgage loan from a savings and loan institution.
A department store credit card c. E installment loan for purchasing a major appliance. A mortgage loan d.
An example of open-end credit is an a credit card charge. View the full answer. An arrangement for borrowing from a bank where money can be taken and paid back up to an agreed.
It is a pre-approved loan from a financial institution which controls the amount a borrower can borrow. A line of credit is a type of open-end credit. 7 Credit cards are an example of revolving open end credit 8 Ebony saw the ad from DC-PF 101 at Joplin High.
This problem has been solved. Installment loan for purchasing a major appliance. Credit card of credit.
An example of conventiona. B the mortgage loan from a savings and loan institution. Summary 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.
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 home equity line of credit is an example of open-end credit. Open-end credit allows or enables borrowers to purchase repeatedly with an open end credit line.
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. An unsecured open-end loan is a line of credit thats not attached to a piece of collateral. How should a card holder begin to correct a mistake on a credit card bill.
The use of a bank credit card to make a purchase. C automobile loan from a credit union. D installment loan from a furniture store.
Notify the creditor in writing. E installment loan for purchasing a major appliance. It helps borrowers to have control over when and how much they borrow.
An automobile loan b. 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. A direct loan for personal purposes home improvements or vacation expenses is called a.
A mortgage is an example of closed-end credit. A good example of an open-end credit is A. True The effective annual rate of interest on a loan based on a specific calculation as set forth by law.
For example you may. A ____ of credit is an example of an open-end credit. 147 Which of the following is an example of open-end credit.
View Test Prep - Open End Credit examples from MATH 140 at Colorado Technical University. AAn automobile loan BA department store credit card CAn installment loan for purchasing furniture. A good example of an open-end credit is A the use of a bank credit card to make a purchase.
Open End Credit This is a type of credit loan paid on installments in. Which of the following is an example of open-end credit. Experts are tested by Chegg as specialists in their subject area.
The total dollar amount you pay to use credit is the. Generally closed-end credit has a better interest rate than that of open-ended credit because closed-end credit is less risky insomuch as there is a limit on how much credit may be utilized. Installment loan for purchasing furniture D.
Department store credit card C. Examples of open-end loans are credit cards and a home equity line of credit or HELOC.
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