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Revolving vs. Installment -

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6 Questions

Which of the following best describes revolving credit?

An agreement that allows an account holder to borrow money repeatedly up to a set limit while repaying in installments.

What is the key feature of revolving credit?

Borrowing money repeatedly up to a set limit.

How does revolving credit work?

Borrowing money repeatedly up to a set limit and repaying in installments.

Which of the following statements best describes revolving credit?

Revolving credit allows an account holder to borrow money repeatedly up to a set limit and repay it in installments.

What is the main benefit of revolving credit?

Access to funds whenever needed.

Which of the following is an example of revolving credit?

A credit card with a $5,000 limit that can be used for multiple purchases.

Test your knowledge on revolving credit with this informative quiz! Learn what revolving credit is, how it works, and explore real-life examples to deepen your understanding of this financial concept. https://www.investopedia.com/ask/answers/110614/what-are-differences-between-revolving-credit-and-installment-credit.asp

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