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Answers FL-2102373-Personal Finance and Money Management Honors Simple InterestQuestion 1

1

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Simple Interest

Question 1 of 11 • FL-2102373-Personal Finance and Money Management Honors

Which would be considered closed-end credit situations? Check all that apply.

Answer

A

Jason bought a used car and got a loan from his credit union.

B

The Overtons bought a new home and mortgaged it for 30 years.

C

Samantha got her first credit card at age 18 with a credit limit of $300.

D

Tammy borrowed $40,000 in school loans to be paid back in 5 years.

E

Tim always pays his credit card balance in full each month.

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Simple Interest - Question 1 | FL-2102373-Personal Finance and Money Management Honors | Revolt