The Disadvantage of Using an Interest Only Line of Credit

question 74

True/False

The disadvantage of using an interest only line of credit is the considerably longer time it takes to repay the loan in comparison to a traditional consumer installment loan.

Apply theoretical perspectives to understand the dynamics and success of social movements.

Examine the influence of technology on societal structures and individual behaviors.

Assess the impact of cultural imperialism and cultural diffusion in a globalized world.

Understand the concept of cultural lag and its effects on society.

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Definitions:

Warranty Of Merchantability

A guarantee implied by law that goods sold will be fit for their ordinary purpose.

Disclaimer

A statement that denies something, especially responsibility, or a statement that specifies limits to a particular area of knowledge or information provided.

Warranty Of Merchantability

assures that a product sold by a merchant is fit for the general purpose for which it is sold, meeting a buyer's reasonable expectations.

Conspicuous

Something easily seen or noticed; clearly visible or attracting attention due to its distinctiveness.