Why would a person choosing to take a line of credit want to choose one that charges simple interest

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01-10-2021
Physics

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Why would a person choosing to take a line of credit want to choose one that charges simple interest

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rrajukc7 rrajukc7 · Answer 1 · 2021-10-01T14:53:19+02:00

rrajukc7 rrajukc7

01-10-2021

Answer:

Lines of credit are unsecured loans. That means the bank is taking a huge risk. The bank has to be certain the borrower has a credit history that indicates (s)he will pay back the loan

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