2 years ago

If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using?

Social Studies

1 answer:

Vaselesa [24]2 years ago

4 0

Answer:

A) Non-Revolving

Explanation:

There are two types of payment option, revolving credit and non-revolving credit.

For non-revolving credit, there is a fixed interest rate and fixed monthly payment according to agreement to payoff the loan. The consumers fixed monthly payment in this case is $250. Unlike non-revolving credit, there is no fixed payment amount in revolving credit.

You might be interested in

True/False - According to Commission Position 1 on Homebuilders - Corporations that build structures on land they own may sell t

Iteru [2.4K]

Answer: TRUE

Explanation:

HOME BUILDER 'S EXEMPTION

Under this exemption, a provision is made enabling corporations to sell both land and structure that they own if they were the ones who put up the structure.

The sale however must be made by corporate officers or regularly salaried employees.

The land and structure must also be sold as a unit and not separately

5 0

3 years ago

In which case did the Supreme Court rule that police must inform criminal suspects of their legal rights upon their arrest?

zheka24 [161]

Miranda V. Arizona thats why its called the miranda rights

5 0

2 years ago

Read 2 more answers

Louis Pasteurs research contributed to life during the industrial revolution?

telo118 [61]