Question

A drawback to an installment plan is that

a.it takes longer to buy a productB.a large down payment is required.
c.interest rates are generally very high
d.interest rates are generally very low

Answer 1

For installment plans, a common drawback for this kind of payment method is that the interest rates are generally very high. Since you are paying a product for several months, you also have to pay additional amount for the span of time of the payment. The answer to this is option C.