What type of Credit allows you to borrow a specific amount and agree to pay in a specific number of payments of equal amounts?

Business

2 answers:

lesantik [10]3 years ago

8 0

Answer:

The correct answer is Installment.

Explanation:

There are many types of credits you can ask for, one of them is the Installment credit. This credit consists of a loan that will be paid month by month in equal amounts of money until the debt is paid.

The advantage of this loan is precisely that the payment of each month is fixed, and will not change.

These loans usually have a longer duration to finish paying off the debt, <u>an example of this type of loans is a mortgage. </u>

To apply for a loan you must have a good previous credit record, an annual increase that is appropriate for the loan you are applying for and a stable employment or source of income.

Given this information, we can say that the correct option is Installment.

Kryger [21]3 years ago

6 0

bloting i think it is thatn

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