which of the following is not likely to be financed with closed - end credit? a. a corvette convertible…
which of the following is not likely to be financed with closed - end credit? a. a corvette convertible sports car. b. a house in a nice neighborhood. c. an expensive meal in a great restaurant. d. a fishing boat with an 85 - horsepower engine.
Answer
Brief Explanations:
Closed - end credit is typically used for large - value, long - term purchases like cars, houses, and boats. An expensive meal is a short - term, relatively low - value expense usually paid with cash, debit, or open - end credit like a credit card.
Answer:
C. An expensive meal in a great restaurant.