Which would be considered closed-end credit situations? Check all that apply.
1) Jason bought a used car and got a loan from his credit union.
2) The Overtons bought a new home and mortgaged it for 30 years.
3) Samantha got her first credit card at age 18 with a credit limit of $300.
4) Tammy borrowed $40,000 in school loans to be paid back in 5 years.
5) Tim always pays his credit card balance in full each month.
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