an example of open-end credit is a(n) ____

Openend credit refers to any type of loan where you can make repeated withdrawals and repayments. Installment loan from a furniture store.

Difference Between Open End Credit And Closed End Credit

Home equity lines of credit HELOC and credit cards on the other.

. A good example of an open-end credit is A the use of a bank credit card to make a purchase. An example of open-end credit is a. The bank is using.

An example of open-end credit is mortgage loans as there are specific open. For example assume a borrower obtains a 200000 open-end mortgage to purchase a home. Open-end credit refers to any type of loan where you can make repeated withdrawals and repayments.

In the consumer market home equity loans are an example of an open-end credit which allows homeowners to access funds based on the level of equity in the homes. An example of open-end credit is a n ____. E installment loan for purchasing a major appliance.

Depending on the product. As you repay what youve borrowed you can draw from the credit line again and again. C automobile loan from a credit union.

Common examples of open-end credit are credit cards and lines of credit. Which of the following is an example of open-end credit. A Single lump sum of credit B An installment loan for purchasing furniture C A mortgage loan D A department store credit card.

A credit card charge. Revolving check credit b. What is open end credit example.

D installment loan from a furniture store. An example of open-end credit is aautomobile loans binstallment sales credit cmortgage loans drevolving check credit 11. For example when a sale is made a customer could choose to pay with cash.

A credit car charge. B the mortgage loan from a savings and loan institution. Examples include credit cards home equity loans.

Home equity lines of credit HELOC and credit. Real estate and auto loans are generally closed-end credit. What are some examples of credit that is open and closed.

Examples include credit cards home equity loans personal lines of credit and. With an open-end credit the borrower has access to the whole credit limit or full amount once approved. An example of open-end credit is mortgage loans as there are specific open end mortgage loans available so correct option will be C mortgage loans Automobile loans and revolving.

For instance a lender approves a 50000 line of credit and the. Credit card holders are known as convenience. Automobile loan from a credit union.

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