209k views
2 votes
What kind of credit is a monthly heating bill?

a) single-payment credit
b) installment credit
c) revolving credit
d) not applicable

User JMJ
by
8.8k points

1 Answer

1 vote

Final answer:

A monthly heating bill is an example of installment credit, where the borrower agrees to repay the loan in regular installments over a predetermined period of time.

Step-by-step explanation:

A monthly heating bill is an example of installment credit. In installment credit, the borrower receives a specific amount of money and agrees to repay the loan in regular installments over a predetermined period of time. The monthly heating bill represents a recurring expense that is paid off gradually over time, making it an example of installment credit.

User Zbyl
by
7.5k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories