A Good Example of Open-End Credit Is

question 60

Multiple Choice

A good example of open-end credit is:

• A) the use of a bank credit card to make a purchase.
• B) a mortgage loan from a savings and loan institution.
• C) an automobile loan from a credit union.
• D) an installment loan from a furniture store.
• E) an installment loan for purchasing a major appliance.

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Definitions:

Population Parameter

A characteristic or measure that describes an aspect of a population.

Upper Bound

The highest possible value in a set of numbers or the maximum limit of a range.

Shuttle Bus

A bus service that travels frequently between two points, such as between an airport and a city center, designed to shuttle passengers in a short time.

True Proportion

The actual proportion of individuals in a population that exhibits a particular trait or characteristic.