Which of the Following Statements About Open-End Loans Is True

question 6

Multiple Choice

Which of the following statements about open-end loans is true?

• A)An automobile loan is probably the most common type of open-end loan.
• B)The longer you use the money, the more you pay.
• C) The amount owed is fixed.
• D) The term is fixed.

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Definitions:

American Society

The social structure, cultural practices, and institutions found within the United States.

Normal Accidents

Those that occur inevitably though unpredictably due to the very complexity of modern technologies.

Charles Perrow

Charles Perrow is a sociologist known for his research on organizations, particularly his conceptual framework on "normal accidents" related to technological systems.

Risk Society

A societal framework defined by the way in which modern societies deal with and respond to various risks, often exacerbated by technological and environmental changes.