open end credit is brainly

Open end credit is brainly Thursday June 2 2022 Edit. Found 335 sentences matching phrase open end creditfound in 32 ms.

Compare Revolving Credit And Closed End Credit Brainly Com

A mortgage is an example of closed-end credit TF.

. Open end credit is when a borrower can spend up to a certain amount. It is a pre-approved loan from a financial institution which controls the amount. This has varying payment depending on how much you spend.

Open credit that you can get more credit you can show it. Revolving credit charge account credit. Open-end credit is not restricted to a specific.

What is the difference between closed-end credit and open-end credit. The option A and D is true about open-end credit because they mention that. TRUE-closed end credit is a one time loan that you will pay back over a specific period of time in equal amounts.

A It is not typically used for a single purchase but for many purchases over a period of time. What S The Difference Between Credit Debit Cards Huntington Bank. Charge account credit account open account - credit extended by a business to a customer.

Open-end credit allows or enables borrowers to purchase repeatedly with an open end credit line. 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. Ask questions about your assignment.

Furthermore the loan terms cannot be changed. Closed-end credit includes debt instruments that are acquired for a particular purpose and a set amount of time. Difference between the closed-end and the opened-end credit - 6581253.

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. Provide An Example Of A Open End Credit. Open-end credit is not restricted to a specific use.

One example of open end credit is credit cards. The difference between closed-end credit and open credit is mainly in the terms of the debt and the debt repayment. A high credit utilization ratio can make.

A loan from a family. Whats the difference between open end and. Closed-end credit unlike open-end credit does not revolve or provide available credit.

Which Is An Example Of Closed End.

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