Question

Answer the following question with three or four complete sentences. 4 Points Identify at least two similarities and two differences between installment plans of the 1920s and credit cards of today.

Answer 1

Answer:

Installment sales and credit card sales are quite similar. Both are forms of credit that provide ways for goods to be delivered and the payment for the goods to be postsoned to a later date. Although, there are two major differences between installments and credit card sales: time to repay and collateral. While a credit card sale is a short-term payment option, an installment sale is generally stretched over many years.

Explanation:

Answer 2

Answer:Installment sales and credit sales are quite similar

Explanation:Installment sales and credit sales are quite similar. Each is a form of credit that provides a way for goods to be delivered and the payment for the goods to be deferred to a later date. However, there are two key differences between installment and credit sales: time to repay and collateral. While a credit sale is a short-term payment deferral option, an installment sale is generally stretched over many years. Collateral refers to the type of assets used to secure the credit.