heavrn88 heavrn88

28-05-2024
Physics

Answered

Which of the following is not an element of installment credit?
OA. Fixed payment
B. Repayment schedule
OC. Line of credit
OD. Fixed loan amount
13

Answer :

GinnyAnswer GinnyAnswer

28-05-2024

Final answer:

Installment credit elements include fixed payments, repayment schedule, and fixed loan amount, with a line of credit being the exception.

Explanation:

Line of credit is not an element of installment credit. Installment credit involves fixed payments, a repayment schedule, and a fixed loan amount. A line of credit allows borrowing on short notice at a pre-determined interest rate, distinct from traditional installment loans.

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