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2 years ago

What distinguishes open-ended credit from closed-ended credit?

Business

2 answers:

Naily [24]2 years ago

7 0

The main difference is must repay vs doesn’t need to repay.

<u>Explanation: </u>

Closed-end credit is a payment agreement in which the debtor is expected to repay the tax due plus the interest in a particular number of equivalent arrangements, typically on a monthly basis.

Open-ended loan, credit is provided in anticipation of any payment so that the debtor does not have to repay every period the credit is demanded.

Car and ship loans are prominent examples of closed-end loans. On the other side, open-ended loans, such as credit card payments, can have the amount owed up and down as the creditor takes money against the line of credit.

KiRa [710]2 years ago

6 0

Open-ended credit is credit that can be used repeatedly.

Example: A credit card

Close-ended credit is credit that has to be paid in full by a certain date

Example: A house loan (mortgage)

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Say the marginal tax rate is 20 percent and that government expenditures do not also that the economy is at potential output and

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<u>Solution and Explanation:</u>

a) The deficit is structural deficit, not cyclical deficit

b) Structural deficit is $450 billion

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cyclical - during a recession , Structural - normal times

This is the budget deficit at potential GDP

Structural deficit = Total Government deficit - Cyclical Deficit

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2 years ago

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1 year ago

Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed

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<h3>What is a loan amortization schedule?</h3>

It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner

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The formula is:

$P=F_{P} (i)/1-(1+i)^{-1}$