What is true about open-end credit?
A.It is not typically used for a single purchase but for many purchases over a period of time.
B.This type of credit is sometimes referred to as a consumer loan.
C.This type of credit is commonly used for big-ticket things like mortgages or car loans.
D.Payments typically stay the same amount from month to month.
Answers
Explanation:
What Is Open-End Credit?
Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due.
grace period is a set length of time after the due date during which payment may be made without penalty. A grace period, typically of 15 days, is commonly included in mortgage loan and insurance contracts.
The differences between capital expenditures and revenue expenditures include whether the purchases will be used over the long-term or short-term. Capital expenditures (CAPEX) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, or equipment. Capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period.
Although any type of personal loan could be labeled consumer credit, the term is usually used to describe unsecured debt ...
Answer:
D
Explanation:
you can keep using the same credit over and over as long as you make the minimum monthly payments on time each month