Question

Open-end credit is A: a loan given for a short period of time that is not dependent on credit history. B: pledged to a company as security for a loan repayment. C: an amount of time during which a loan can be repaid without interest. D: an agreement with an institution on a certain amount that can be repeatedly borrowed.

Answer 1

D an agreement with an institution on a certain amount that can be repeatedly borrowed.

Explanation:

Answer 2

D

Explanation:

Here we want to select which of the options best define open end credit.

When we talk of open end credit, we are referring to a loan system in which the borrower of the loan can payback and consistently borrow the loan from the lender.

In this case, what we are saying is that the borrower can payback a certain amount and still get an amount of money from the balance of the loan.

In simple case, it is a system of borrowing and loan repayment simultaneously