A drawback to an installment plan is that

a. it takes longer to buy a productB. a large down payment is required.

c. interest rates are generally very high

d. interest rates are generally very low

Question

Social Studies

Hamza Benjamin

17 November, 16:07

A drawback to an installment plan is that

a. it takes longer to buy a productB. a large down payment is required.

c. interest rates are generally very high

d. interest rates are generally very low

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Answers (1)

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Izayah Bishop · Answer 1

For installment plans, a common drawback for this kind of payment method is that the interest rates are generally very high. Since you are paying a product for several months, you also have to pay additional amount for the span of time of the payment. The answer to this is option C.

A drawback to an installment plan is thata. it takes longer to buy a productB. a large down payment is required.c. interest rates are generally very highd. interest rates are generally very low

A drawback to an installment plan is that

a. it takes longer to buy a productB. a large down payment is required.

c. interest rates are generally very high

d. interest rates are generally very low