USA HISTORY

Detailed explanation-1: -An installment purchase agreement is a contract used to finance the acquisition of assets. Under the terms of such an agreement, the buyer pays the seller the full purchase price by making a series of partial payments over time. The payments include stated or imputed interest.

Detailed explanation-2: -Consumer debt can create insecurity, reduce wealth, harm families, and may slow the economy. Consumer debt is often a positive force in people’s lives and supports economic growth, but its negative impacts on households are serious, widespread, and inequitable.

Detailed explanation-3: -2. What is the expected growth rate of the global consumer credit market during 2023-2028? We expect the global consumer credit market to exhibit a CAGR of 4.8% during 2023-2028.

Detailed explanation-4: -With installment credit, you are provided a set monthly repayment amount for a stated period of time, making budgeting easier. Installment loans also can be extended over time-a 30-year mortgage is one example-allowing for lower monthly payments that may align better with your monthly cash flow needs.