A loan made for a specified number of equal monthly payments is called an installment loan. It is ...

A loan made for a specified number of equal monthly payments is called an installment loan. It is typically used for making purchases like cars, boats, furniture, or services such as vacations or home improvements.
Indicate whether the statement is true or false

Q. 2

Convert to a decimal: .85
A) .085
B) .0085
C) 8.5
D) 85.0

Q. 3

The lending rate at which the largest and most credit-worthy corporations borrow from banks is called the U.S. Prime Rate.
Indicate whether the statement is true or false

Q. 4

Convert to a decimal: .52
A) .052
B) 5.20
C) 52
D) .0052

Q. 5

The pre-approved amount of an open-end credit based on the borrow's ability to pay is known as the line-of-credit.
Indicate whether the statement is true or false

Q. 6

If a company's market share increased from 15 to 24 percent of the total market, it would be expressed as an increase in ____________________ points.
Fill in the blank(s) with correct word

Q. 7

In businesses today, the most commonly used method for determining a finance charge for a billing cycle is to find the highest daily balance within the last six months and multiply that by the periodic rate.
Indicate whether the statement is true or false

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A loan made for a specified number of equal monthly payments is called an installment loan. It is ...

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