Question
You are given two choices for paying for the roof repair: loan X and loan Y.
Loan X:
Terms:
Credit limit
Cash advance
Interest rate/ APR
(prime rate +
)
Minimum payment
or
of the balance
Late fee
Loan Y:
Terms:
Amount borrowed
Annual percentage rate (APR)
Loan term
months
Monthly payment
Total interest paid
Total cost of the loan
Which of these loans is revolving credit?
Choose 1 answer:
Choose 1 answer:
(Choice A) loan X
A
loan X
(Choice B) loan Y
B
loan Y
Loan X:
Terms:
Credit limit
Cash advance
Interest rate/ APR
(prime rate +
)
Minimum payment
or
of the balance
Late fee
Loan Y:
Terms:
Amount borrowed
Annual percentage rate (APR)
Loan term
months
Monthly payment
Total interest paid
Total cost of the loan
Which of these loans is revolving credit?
Choose 1 answer:
Choose 1 answer:
(Choice A) loan X
A
loan X
(Choice B) loan Y
B
loan Y
Answers
GPT 3.5
A. loan X
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