Question
What are "installment plans" that originated in the 1920s?
the requirement of paying the total cost for an item up front
the process of car parts being installed once each portion is paid for
payment plans that allow a customer to make smaller payments for an item over time
the requirement of paying the total cost for an item up front
the process of car parts being installed once each portion is paid for
payment plans that allow a customer to make smaller payments for an item over time
Answers
GPT-4o mini
Installment plans, which originated in the 1920s, refer to **payment plans that allow a customer to make smaller payments for an item over time**. This method made it easier for consumers to purchase larger items, such as cars and appliances, by spreading the cost over a set period rather than requiring the total amount to be paid upfront. This approach contributed to the growth of consumer credit and made it more accessible for people to buy goods.