Another name for closed-end credit is:
A) a line of credit.
B) convenience credit.
C) revolving credit.
D) installment credit.
E) bank card credit.

Name: Another name for closed-end credit is: A) a line of credit. B) convenience credit. C) revolving credit. D) installment credit. E) bank card credit.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

Closed-end credit is also known as installment credit because it involves borrowing a specific amount of money that is then repaid in fixed installments over a set period of time.

Another Name for Closed-End Credit Is