Pergunta
2. Each of the following re presents an installme nt loan EXC EPT __ a. Home mortgage b. Auto loan c. Student loan d. Credit card
Solução
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FernandoEspecialista · Tutor por 3 anos
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The correct answer is 'd'. A credit card is not an installment loan.
Explicação
## Step 1<br />An installment loan is a type of loan that is repaid over time with a set number of scheduled payments. This is different from a revolving credit, which is a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.<br /><br />## Step 2<br />Looking at the options provided, we can see that a home mortgage, auto loan, and student loan are all types of installment loans. These loans are typically repaid over a set period of time with a fixed number of payments.<br /><br />## Step 3<br />On the other hand, a credit card is a type of revolving credit, not an installment loan. This is because a credit card allows you to borrow money up to a certain limit and repay it over time, which is different from an installment loan.
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