With open-end loans, an individual makes regular fixed dollar payments for a specific period of time.

Name: With open-end loans, an individual makes regular fixed dollar payments for a specific period of time.
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Open-end loans do not have a specific period of time or fixed payments. They are instead revolving lines of credit, with a credit limit that can be borrowed from and repaid repeatedly. Examples of open-end loans include credit cards and home equity lines of credit.

With Open-End Loans, an Individual Makes Regular Fixed Dollar Payments