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. It is the time between when a payment is made and when it is processed or cleared. During this time, the funds are still in transit and not yet available for use.

Float Can Be Defined As