Sabrina bought a new washing machine. She put $50 down and pays $50 per month for the next 10 months to be able to make the purchase. Which type of credit did she use?

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13-07-2022
Business

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Sabrina bought a new washing machine. She put $50 down and pays $50 per month for the next 10 months to be able to make the purchase. Which type of credit did she use?

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anshumanaryan799 anshumanaryan799 · Answer 1 · 2022-07-20T13:16:11+02:00

The credit she used is an installment sales credit.

Installments help you manage your liquidity and avoid unnecessary interest and fees. Installments are what you think of as a typical loan. Mortgages, car loans, or personal loans are examples of installment loans. These usually have a fixed payment and a specific end date.

Credit sales are a way for businesses to offer their customers short-term payment deferral options. The typical time frame for credit sales is 90 days or less. Credit sale discounts are often applied when the full amount is paid within a certain number of days.

Learn more about Credit sales here: https://brainly.com/question/25393740

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