What is Line of credit?5
722 5b5cc7dde4d2b419777515fb
Q: What is Line of credit?
- Show Answer
- Workspace
- Discuss
Answer :
Explanation :
Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower’s demand. The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn. For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000).
Similar Questions
Since Nithya and Suganya exchange places, so Rita’s new position is the same as Monika’s earlier position. This position is 17th from the right and 10th from the left. Therefore Number of girls in the row = (16 + 1 + 9) = 26.