QuestionMay 25, 2025

A square -end loan from the bank for personal purposes. home improvements, or vacation expenses is considered installment cash credit.

A square -end loan from the bank for personal purposes. home improvements, or vacation expenses is considered installment cash credit.
A square 
-end loan from the bank for personal purposes.
home improvements, or vacation expenses is considered installment cash
credit.

Solution
4.4(165 votes)

Answer

Installment cash credit Explanation 1. Define Installment Cash Credit Installment cash credit is a type of loan where the borrower receives a lump sum and repays it in regular installments over time. 2. Identify Loan Types Loans for personal purposes, home improvements, or vacation expenses typically fall under installment loans. 3. Confirm Loan Type Since the loan described fits the criteria of being repaid in installments, it is considered installment cash credit.

Explanation

1. Define Installment Cash Credit<br /> Installment cash credit is a type of loan where the borrower receives a lump sum and repays it in regular installments over time.<br /><br />2. Identify Loan Types<br /> Loans for personal purposes, home improvements, or vacation expenses typically fall under installment loans.<br /><br />3. Confirm Loan Type<br /> Since the loan described fits the criteria of being repaid in installments, it is considered installment cash credit.
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