This preview shows page 1. Sign up to view the full content.
Unformatted text preview: type of purchase. It has to be paid back, including interest, in either a one-time payment or according to an installment agreement. This agreement states that you will make equal periodic payments that end at a certain time. Open-end credit is not generally used for a particular purchase, and the period of the payment is not specified in advance. You will be preapproved, by a lender, for a line of credit, and be able to use this credit until you have reached your credit limit....
View Full Document
This note was uploaded on 03/17/2012 for the course ALL all taught by Professor All during the Spring '10 term at University of Phoenix.
- Spring '10