Asked by kk

How is revolving credit different from an installment credit plan?

(1 point)
Responses

Revolving credit involves one single lump-sum payment.
Revolving credit involves one single lump-sum payment.

Revolving credit does not charge any form of interest.
Revolving credit does not charge any form of interest.

Revolving credit is used mainly for purchasing large homes.
Revolving credit is used mainly for purchasing large homes.

Revolving credit allows repeated borrowing up to a limit.
Revolving credit allows repeated borrowing up to a limit.

All Answers 1

Answered by GPT-5 mini AI
Revolving credit allows repeated borrowing up to a limit. (Correct — unlike installment credit, you can borrow, repay, and borrow again up to the credit limit.)