Match the Following Terms with Their Definitions

question 30

Multiple Choice

Match the following terms with their definitions.
-Open-end credit

• A)Total of all payments minus amount financed
• B)Effective interest rate
• C)A payment process
• D)A revolving charge account
• E)Sum of daily balance divided by number of days in billing cycle
• F)Total of all monthly payments plus down payment
• G)Used in calculation of average daily balance
• H)Doesn't dictate interest rates
• I)Cash price minus down payment
• J)Used to calculate rebate of finance charge
• K)Purchase till maximum credit reached
• L)Initial cash payment

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Definitions:

Claims

Assertions or demands for something as due, typically in the context of insurance or legal disputes.

Direct Approach

A method of communication that involves straightforwardly presenting a message or request without circumvention.

Financial Analyst

A professional responsible for assessing financial data and trends to provide insights and recommendations for businesses or investments.

Job Applicant

A job applicant is an individual who expresses interest in and applies for a vacant position within a company or organization.