Question

any one tell about terms of credit

Answer 1

Answer:

The four terms of credit are : 1 Interest rate- The borrower has to pay a sum of money as interest along with the principal amount. 2. Collateral- It is an asset that the borrower owns and uses this as guarantee to the lender until the loan is repaid.

Answer 2

Answer: terms of credit are required so that the borrowers know the conditions to take the loans

Explanation: