Drag each tile to the correct box.

Match each type of credit to its description.

convenience checks
installment loan
introductory interest free
revolving credit

Consumers make recurring fixed payments.

Consumers can enjoy a set period of zero interest credit.

Consumers use these to reduce their available credit in exchange for cash.

Consumers borrow an amount that they don’t have to pay off by a specific date.

Convenience checks: consumers use these to reduce their available credit in exchange for cash.

Installment loan: consumers make recurring fixed payments.

Introductory interest free: consumers can enjoy a set period of zero interest credit.

Revolving credit: consumers borrow an amount that they don’t have to pay off by a specific date.

Explanation:

In Business, credit can be defined as money or a loan facility agreed upon by a lender and a borrower, who is obligated to repay the lender at a specified date mostly with interest depending on the terms and conditions.

Credit generally decreases assets or increases liabilities and equity on the balance sheet of an organization.

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