QUESTION IMAGE
Question
which of the following is an example of revolving credit? a. a loan that uses collateral b. a loan that doesnt use collateral c. a credit card d. a single - payment loan
pay off part or all of the balance monthly, and the available credit resets accordingly. Collateral-based/unsecured loans (A, B) and single-payment loans (D) are installment or non-revolving credit products, where the borrowed amount is repaid in fixed installments or a single lump sum with no ongoing reusable credit line.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
pay off part or all of the balance monthly, and the available credit resets accordingly. Collateral-based/unsecured loans (A, B) and single-payment loans (D) are installment or non-revolving credit products, where the borrowed amount is repaid in fixed installments or a single lump sum with no ongoing reusable credit line.