ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Another name for credit is called what?
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spent money
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borrowed moeny
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saved money
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debit card
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Explanation:
Detailed explanation-1: -Borrowed money can also be called debt capital or loan capital.
Detailed explanation-2: -Credit is also called creditworthiness or the credit history of a company.
Detailed explanation-3: -Credit allows you to get money upfront with the promise to repay it in the future, often with interest. Creditworthiness refers to a borrower’s ability to pay what they’ve borrowed. Lenders judge creditworthiness in many different ways, and they may use things like credit reports and credit scores to help.
Detailed explanation-4: -The amount of money borrowed from the bank is called the loan, and the extra amount of money paid back to the bank other than the loan is called the interest.
There is 1 question to complete.