Consumer credit can take the form of an installment loan that is repaid in ____ payments over a ____ period of time.
A)variable; variable
B)equal; set
C)increasing; set
D)decreasing; variable

Question

Quizplus · Accepted Answer

Consumer credit installment loans are typically repaid in equal payments over a set period of time, such as 36 months. This allows the borrower to budget and plan for the payments, as well as pay off the debt over a reasonable timeframe. The other options listed (variable/variable, increasing/set, decreasing/variable) do not accurately describe the structure of a typical installment loan.

Consumer Credit Can Take the Form of an Installment Loan