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const2013 [10]
3 years ago
8

What is a closed line of credit? a. A line of credit with a set maximum credit limit. b. A line of credit with no interest rate.

c. A line of credit with a fixed total amount d. A line of credit with a legally mandated repayment schedule​
Mathematics
2 answers:
andreyandreev [35.5K]3 years ago
8 0

Answer:

  • c. A line of credit with a fixed total amount

Step-by-step explanation:

  • <u> More info on closed line of credit</u>
  • <em>A credit limit is established, funds can be used for a variety of purposes, interest is charged normally, and payments may be made at any time.</em>
  • <em> The pool of available credit does not replenish after payments are made. </em>
  • <em>Once you pay off the line of credit in full, the account is closed and cannot be used again.</em>
elena-s [515]3 years ago
3 0

A closed line of credit seems to be c, A line of credit with a fixed total amount.

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