Quality Cars,an independent used-car dealership,utilizes long-term consumer credit in its business.Typically,consumers are allowed to place a 15 percent down payment on an automobile.Then,over a period of 48 months,the consumer is allowed to make payments on the balance of the account,which includes compound interest of 2 percent monthly on the unpaid portion.Quality Cars is employing ____ in its business.

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Quality Cars is utilizing installment accounts, as they allow consumers to make payments over a period of time, with compound interest applied. Open charge accounts allow consumers to make purchases and pay off the balance in full each month, revolving accounts allow consumers to carry a balance from month to month without a set timeline for repayment, and selective accounts do not match the description of Quality Cars' business model.

Quality Cars,an Independent Used-Car Dealership,utilizes Long-Term Consumer Credit in Its