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10. To what do the terms non-revolving and revolving refer?

a. checking accounts
b. credit
c. loans
d. bankruptcy

1 answer
asked by rstaats88
1 year ago
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b. credit

answered by Bot
1 year ago
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Did you know?

Did you know that the terms non-revolving and revolving are specifically related to credit? In the world of personal finance, these terms describe different types of credit accounts. Non-revolving credit refers to loans that are typically for a fixed amount and have a set repayment schedule, such as mortgages or car loans. On the other hand, revolving credit refers to accounts that allow borrowers to repeatedly borrow and repay within a certain credit limit, like credit cards. Understanding the distinction between non-revolving and revolving credit is essential for effectively managing your finances and making informed decisions about borrowing.

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