Business, 25.02.2020 02:31 angelinamadriga

Consumer credit is considered an important part of modern society. Based on the lessons, list and describe the two types of consumer credit. Include how they are similar, how they are different, and provide at least one example of each type of consumer credit.

Answers: 1

Show answers

Answers

Answer from: mhwalters

The two types of consumer credit

(1) Revolving credit

(2) installmental credit.

Revolving credit is a type of credit that allows you to continue to borrow and pay back and continue again.

Installmental credit is a credit with a fixed amount and the borrower is expected to make continuous installmental payments either monthly or weekly etc.

SIMILARITY: They both involves Borrowing of money to pay in a later date.

DIFFERENCE: Revolving credit is a continuous credit as it is seen with CREDIT CARDS while Instalment credit is not continuous as ONLY A FIXED SUM IS BORROWED AND PAID IN INSTALMENT.

Example of Revolving credit credit card issued by banks etc.

Examples of instalment credit is Mortgage loan,car loan etc

Explanation: Consumer credit is the process or procedures put in place to ensure that consumers can borrow money either from private or Government establishments. It is classified into Revolving credit and installmental credit.

They both involves the borrowing of certain amount to pay at another time.

Credit cards are an example of Revolving credit while Home loan,car loan etc are Installmental credit.

Answer from: tra10money

The two types of consumer credit are closed-end credit, and open-end credit.

They're alike because in both types of credit, loans are made. However, closed-end credit is a one-time loan that you pay back over time in payments of equal amounts and is typically used for a specific purchase, while open-end credit has loans continuously made with the repayment period not set and is typically used for multiple purchases.

An example of closed-end credit is installment sales credit, where you're given a loan in order to purchase an item, and then later agreeing to pay a set amount of money in installments until you pay off the loan and interest. An example of open-end credit is a credit card.

Explanation:

personal financial literacy flvs

Answer from: Quest

i would say their habit of breaking down.

Answer from: Quest

answer; /// place the thermal compound between the heat sink and the microprocessor;

Another question on Business

Business, 21.06.2019 22:00

Email viruses are typically launched by people who modify header information to hide their identity. brightmail's enrique salem says that in the future, your email reader will authenticate the sender before putting hte message in your inbox. that way, you will know the source of all the emails you read. alan nugent of novell says, "i'm kind of a fan of eliminating anonymity if that is the price for security." will eliminating anonymity make computers more secure?

Answers: 3

Answer

Business, 22.06.2019 12:30

Consider a treasury bill with a rate of return of 5% and the following risky securities: security a: e(r) = .15; variance = .0400 security b: e(r) = .10; variance = .0225 security c: e(r) = .12; variance = .1000 security d: e(r) = .13; variance = .0625 the investor must develop a complete portfolio by combining the risk-free asset with one of the securities mentioned above. the security the investor should choose as part of her complete portfolio to achieve the best cal would be a. security a b. security b c. security c d. security d

Answers: 3

Answer

Business, 22.06.2019 14:00

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.

Answers: 2

Answer

Business, 22.06.2019 17:30

After the embarrassing sign incident at the restaurant you own, you decide to offer employees a six-week fundamental writing skills workshop. a local business communication instructor, who has experience teaching writing skills at treleaven community college, will facilitate the sessions. to encourage employees to attend these optional sessions, write an email that explains why you’re offering the workshop and why employees should participate.

Answers: 2

Answer

You know the right answer?

Consumer credit is considered an important part of modern society. Based on the lessons, list and de...

Questions