Question

a furnace company offers borrowers a payment plan that allows them to make regular monthly payments until they have paid the total price of the furnace. which type of credit is this?
○ installment credit
○ noninstallment credit
○ fixed credit
○ revolving credit

Explanation:

Installment credit involves repaying a debt through regular, fixed - amount payments (like monthly payments here) over a set period until the total debt (price of the furnace) is paid off. Non - installment credit is repaid in a single lump sum or irregular payments. Fixed credit is a less common term for this context, and revolving credit (like credit cards) allows borrowing up to a limit and making variable payments. So the correct type is installment credit.

Answer:

A. installment credit