Which of the following is true with respect to installment accounts?
A) A down payment is normally required.
B) Large purchases are usually not covered by this form of credit.
C) By law, finance charges cannot exceed 20 percent of the purchase price.
D) Short-term consumer credit is provided.

Question

Quizplus · Accepted Answer

Installment accounts typically require a down payment as part of the agreement to purchase goods or services over time.

Which of the Following Is True with Respect to Installment