All of the following are correct statements about credit, except
A) the creditor provides funds.
B) credit needs to be paid back in the future.
C) credit repayment will include interest.
D) the interest is the total amount to be repaid.

Question

Quizplus · Accepted Answer

Interest is not the total amount to be repaid; it is an additional cost on top of the principal amount borrowed. The total amount to be repaid includes both the principal and the interest.

All of the Following Are Correct Statements About Credit, Except