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24 July, 19:18

Patrick took a loan of $50,000 with a repayment period of five years from a bank to start his own business. Every month he has to pay the bank $900 to repay the loan. What type of credit is demonstrated in this scenario?

unsecured credit

secured credit

revolving credit

installment credit

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Answers (1)
  1. 24 July, 19:30
    0
    Installment credit maybe
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