Float can be defined as:
A)the interest charged during one billing period.
B)the principal balance due on a loan.
C)a home equity loan.
D)a period of time during which no interest is chargeD.
E)a lump-sum loan from a credit union.

Question

Quizplus · Accepted Answer

Float refers to a period of time during which no interest is charged, such as the time between when a payment is made and when it is processed by the recipient. It can also refer to the time between when a check is written and when the funds are actually withdrawn from the payer's account.

Float Can Be Defined As