open end credit is brainly

Ask questions about your assignment. Open-end credit allows or enables borrowers to purchase repeatedly with an open end credit line.

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One example of open end credit is credit cards.

. Open end credit is when a borrower can spend up to a certain amount. Difference between the closed-end and the opened-end credit - 6581253. The option A and D is true about open-end credit because they mention that.

Closed-end credit unlike open-end credit does not revolve or provide available credit. It is a pre-approved loan from a financial institution which controls the amount. Open credit that you can get more credit you can show it.

Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back. Open-end credit is not restricted to a specific. What is the difference between closed-end credit and open-end credit.

A mortgage is an example of closed-end credit TF. Closed-end credit includes debt instruments that are acquired for a particular purpose and a set amount of time. Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to.

Whats the difference between open end and. This has varying payment depending on how much you spend. Which Is An Example Of Closed End.

A high credit utilization ratio can make. Charge account credit account open account - credit extended by a business to a customer. The difference between closed-end credit and open credit is mainly in the terms of the debt and the debt repayment.

TRUE-closed end credit is a one time loan that you will pay back over a specific period of time in equal amounts. Open end credit is brainly Thursday June 2 2022 Edit. Furthermore the loan terms cannot be changed.

Revolving credit charge account credit. Found 335 sentences matching phrase open end creditfound in 32 ms. Provide An Example Of A Open End Credit.

What S The Difference Between Credit Debit Cards Huntington Bank. Open-end credit is not restricted to a specific use. A loan from a family.

A It is not typically used for a single purchase but for many purchases over a period of time.

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