Quality Cars,an Independent Used-Car Dealership,utilizes Long-Term Consumer Credit in Its

Multiple Choice

Quality Cars,an independent used-car dealership,utilizes long-term consumer credit in its business.Typically,consumers are allowed to place a 15 percent down payment on an automobile.Then,over a period of 48 months,the consumer is allowed to make payments on the balance of the account,which includes compound interest of 2 percent monthly on the unpaid portion.Quality Cars is employing ____ in its business.

A) open charge accounts
B) installment accounts
C) revolving accounts
D) selective accounts