Revolving credit Installment cash credit
Question 11. Question:( TCO 3) As used in Chapter 7 of the text, float refers to
an interest charged for only a few days. something one enjoys in a parade. a home equity loan. a period when no interest is charged. a lump-sum loan from a credit union.
Question 12. Question:( TCO 3) Usually, medium-priced loans can be obtained from
parents or family members. commercial banks and credit unions. the Diners Club. finance companies. American Express.
Question 13. Question:( TCO 3) What is the top reason why consumers default on their debts?
Medical expenses Defective goods and services Excessive use of credit Fraudulent use of credit