The percentage cost of credit varies with length of the credit period.

Name: The percentage cost of credit varies with length of the credit period.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The percentage cost of credit typically increases as the length of the credit period extends, since longer periods often involve higher risks and costs for the lender, which are then passed on to the borrower in the form of higher interest rates or fees.

The Percentage Cost of Credit Varies with Length of the Credit