which of the following is an example of installment credit? credit card 30 day same as cash credit home…
which of the following is an example of installment credit? credit card 30 day same as cash credit home equity line of credit student loan
Answer
Brief Explanations:
Installment credit is a type of loan repaid in regular, equal - sized payments over a set period. A student loan is borrowed for educational expenses and repaid in installments over time. Credit cards are revolving credit. A home equity line of credit is also a form of revolving credit. 30 - day 'same as cash' credit is a short - term credit option, not installment credit.
Answer:
Student loan