Question

A personal loan is different from a credit card in all of the following except it

A) is normally used to finance one large purchase.
B) has a specific repayment schedule.
C) can be used only once.
D) contains a longer grace period.

Answer 1

A personal loan is different from a credit card in all of the listed options except it is normally used to finance one large purchase and can be used only once.

Step-by-step explanation:

A personal loan is different from a credit card in all of the following except it:

1. is normally used to finance one large purchase
2. has a specific repayment schedule
3. can be used only once
4. contains a longer grace period

A personal loan is typically used to finance one large purchase, such as a car or a home. It has a specific repayment schedule, usually with fixed monthly payments. Unlike a credit card, which can be used multiple times, a personal loan is usually a one-time use loan. Additionally, personal loans do not typically have a grace period like credit cards do.