Which type of credit is usually due within 30 days, and the borrower pays the amount due all at once? a. installment credit b. noninstallment credit c. revolving credit d. line of credit

The correct answer is B. Noninstallment credit

Explanation:

In finance, credit occurs as you borrow money from a financial institution and used this to buy services or goods. In the case of no installment credit, this is one of the most common and simplest methods of credit, because in this you pay all the money you borrowed at once, instead of paying back through monthly payments. Additionally, different from other types of credits the date of payment is specific and close to the day of borrowing, indeed most of these credits should be paid within 30 days. According to this, the credit that is due within 30 days and needs to be paid all at once is noninstallment credit.

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