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lora16 [44]
3 years ago
10

Quality Cars, an independent used-car dealership, utilizes long-term consumer credit in its business. Typically, consumers are a

llowed to place a 15 percent down payment on an automobile. Then, over a period of 48 months, the consumer is allowed to make payments on the balance of the account, which includes compound interest of 2 percent monthly on the unpaid portion. Quality Cars is employing ____ in its business.
Business
1 answer:
slavikrds [6]3 years ago
7 0

Answer: The correct answer is "installment accounts".

Explanation: The quality cars business model implies that customers can pay a reduced percentage of the cash price, and for the remaining balance a financing over 48 months, charging a monthly interest for that balance. Thus Quality Cars is employing<u> installment accounts</u> in its business.

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Answer:

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The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.

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Answer:

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