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22-06-2021
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Andrew is buying a dirt bike for $900. He will make $100 payments each
month until the bike is paid in full. This is an example of what type of loan?
A. Revolving credit
B. Installment credit
C. Single-payment loan
D. None of the above

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22-06-2021

Answer:

B Installment credit

Explanation: An installment credit loan can have a repayment period lasting from months to years until the loan is paid off.

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