NuMarzano603 NuMarzano603

20-05-2015
Mathematics

Answered

What do you call an arrangements of receiving money, goods, or services now in exchange for the promise of payment later? A. Collateral B. Interest C. Credit

Answer :

20-05-2015

That is the definition of credit.

Collateral is borrowing money and giving someone an asset of yours worth the same or more value until you replay that money.

Interest is gaining money over time off your existing money.

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Ajohnson2199 Ajohnson2199

20-05-2015

I'm pretty sure the answer you're looking for is C, credit.

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