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24 July, 01:04

Elly &Frank Valdez are thinking about buying a new house and financing it

through their bank. If they get approved, what type of loan will it most likely

be?

A. Installment credit

B. Single payment loan

C. Revolving credit

D. Multipayment loan

+1
Answers (2)
  1. 24 July, 02:49
    0
    Installment Credit

    Explanation:

    AP3X
  2. 24 July, 04:02
    0
    Answer: A.) Installment Credit

    Explanation: Subject to approval, the loan afforded to Elly and Frank Valdez by their bank will most likely be an installment credit. The installment credit is a type of loan which requires the loanee to repay a fixed amount which has been borrowed at a regular scheduled amount over an agreed period of time. The loan period may vary depending on the agreement and amount of initial loan, and the repayment schedule also needs to be stated as maybe monthly, bimonthly, quartely and so on.
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Home » Business » Elly &Frank Valdez are thinking about buying a new house and financing it through their bank. If they get approved, what type of loan will it most likely be? A. Installment credit B. Single payment loan C. Revolving credit D. Multipayment loan
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