Instalment loans require the periodic payment of principal and interest. In most cases, a customer borrows...

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Instalment loans require the periodic payment of principal andinterest. In most cases, a customer borrows to purchase durablegoods or cover extraordinary expenses and agrees to repay the loanin monthly instalments. Explain the following types of instalmentloans in terms of their features and their risks:
5. 1. Credit cards
5. 2. Smart card
5. 3. Mortgage loans

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Solution 51 Credit Card Credit card is kind of Plastic money There are many use of credit cards for Loan purpose and make records of your Purchase Many Retailers gives discount on their products if the Customer is paying bill via Credit Card People who has not Enough money for any transaction right now can buy Product using Credit card and pay it Later If anyone is making a See Answer

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Instalment loans require the periodic payment of principal andinterest. In most cases, a customer borrows to purchase durablegoods or cover extraordinary expenses and agrees to repay the loanin monthly instalments. Explain the following types of instalmentloans in terms of their features and their risks:5. 1. Credit cards 5. 2. Smart card 5. 3. Mortgage loans