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5 June, 02:40

Which of the following is a characteristic of an installment loan?

There is an introductory period where no interest is accrued.

The item purchased is used as collateral until the balance is paid in full.

A down payment is always required.

It is commonly referred to as a "buy now, pay later" plan.

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  1. 5 June, 03:01
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    In my view this option is a perfect characteristic of an installment loan: The item purchased is used as collateral until the balance is paid in full.
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