Multiple Choice
Larry Arnold gets a direct loan of money to go on vacation with his family.There is no down payment,and he will repay the loan over the next twelve months.What type of credit did Larry use?
A) Installment sales credit
B) Installment cash credit
C) Single lump-sum credit
D) Revolving check credit
E) Incidental credit
Correct Answer:
Verified
Correct Answer:
Verified
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