What is the difference between open-end credit, and closed-end credit, and what are the costs associated with each?closed-end credit is a form of credit that must be paid off by a specific date. open-end credit is an amount of credit that can be borrowed repeatedly as long as consistent payments are made according to the bank’s terms. the cost of these types of credit are fees and interest rates charged by the lender.

Answers listed

1. Closed end credit must be paid off by a specific set dat

2. open end credit can be borrowed repeatedly

3. Both of these credits charge interest

4. both may charge fees, and an example would be when minimum payments aren't being made.

this answer is precise and a correct expectation of what the written response should be in the assignment, hope it helps !

the answer is a. or c.

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