asked 164k views
5 votes
Patrick took a loan of $50,000 with a repayment period of five years from a bank to start his own business. Every month he has to pay the bank $900 to repay the loan. What type of credit is demonstrated in this scenario? A. unsecured credit B. secured credit C. revolving credit D. installment credit

asked
User Kwong Ho
by
8.8k points

2 Answers

2 votes

Answer:

b

Step-by-step explanation:

answered
User Kuokongqingyun
by
8.3k points
3 votes

Answer:

D. Installment Credit

answered
User Damorin
by
8.5k points
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