contestada

Which of the following is a characteristic of a deferred payment plan? (2 points)
There is an introductory period where no interest is accrued.
The item purchased is used as collateral until the balance is paid in full.
A down payment is always required.
A certain number of payments must be made before the product is owned.

Respuesta :

francocanacari

A characteristic of a deferred payment plan is that the item purchased is used as collateral until the balance is paid in full.

A deferred payment plan is a form of credit purchase, a way to pay for an item in arrears. The payment is usually divided into several installments, which are distributed over a certain period of time. Interest and fees are often added, which in the end makes the purchase considerably more expensive than if you had paid in cash.

Thus, through this payment system, the asset is delivered to the buyer before the payment is completed, thereby constituting the asset itself as an enforceable guarantee of payment compliance.

Learn more in https://brainly.com/question/2130499

Otras preguntas