Which of the following is an example of closed-end credit?

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Closed-end credit is a type of credit that is extended for a specific purpose, with a fixed repayment term and a set repayment schedule. Mortgage loans are an example of closed-end credit because they are taken out for a specific purpose, have a fixed repayment term, and require regular, fixed payments. The other options listed are examples of open-end credit, where the borrower can access credit up to a certain limit, without a fixed repayment schedule.

Which of the Following Is an Example of Closed-End Credit