When compared to , is often more difficult to obtain because the lender must rely upon your word that you will pay back the loan.

Closed-end credit; open-end credit

Explanation:

in the closed end credit the lender is required to pay back the loan at specific period of time by giving the institution the payment plan.this kind of credit involves taking mortgage or financing a car through the bank.

open end credit allows you to take a loan and pay it according to your liking because it checks how much you owe versus the monthly installments. its difficult to obtain because it relies on your word which makes it more easier for people to run.

countries such as spain, france and portugal colonized the region. although most of latin america was colonized by spain, the countries of portugal and france also had major influences on the region. due to war and disease, native populations were decimated.

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