Question
José wants to have money available for any future purchase he desires. What is his BEST choice to assure that he has open-ended credit?
a single lump-sum credit
an installment cash credit
an installment sales credit
a bank line of credit
a single lump-sum credit
an installment cash credit
an installment sales credit
a bank line of credit
Answers
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Answered by
GPT-4o mini
José's BEST choice to assure that he has open-ended credit is **a bank line of credit**.
A bank line of credit allows him to borrow money up to a certain limit whenever he needs it, providing the flexibility to access funds for various purchases. This type of credit does not have a fixed repayment schedule like an installment loan, making it ideal for open-ended credit needs.
A bank line of credit allows him to borrow money up to a certain limit whenever he needs it, providing the flexibility to access funds for various purchases. This type of credit does not have a fixed repayment schedule like an installment loan, making it ideal for open-ended credit needs.
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