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Describe the difference between a fixed installment loan and an open - end installment loan. Choose the correct answer below. A . To acquire a
Describe the difference between a fixed installment loan and an openend installment loan. Choose the correct answer below. A To acquire a fixed installment loan, a credit check using reports and scores is requiredcredit reports and scores are not used to give an openend installment loan. B An openend installment loan has a schedule for paying a fixed amount each period, while an openend installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate. C A fixed installment loan has a schedule for paying a fixed amount each period, while an openend installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate. D To acquire an openend installment loan, a credit check using reports and scores is required credit reports and scores are not used to give a fixed installment loan.
Describe the difference between a fixed installment loan and an openend installment loan.
Choose the correct answer below.
A To acquire a fixed installment loan, a credit check using reports and scores is requiredcredit reports and scores are not used to give an openend installment loan.
B An openend installment loan has a schedule for paying a fixed amount each period, while an openend installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate.
C A fixed installment loan has a schedule for paying a fixed amount each period, while an openend installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate.
D To acquire an openend installment loan, a credit check using reports and scores is required credit reports and scores are not used to give a fixed installment loan.
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