Questions: What is easy-access credit? credit that is to be repaid in full by a specific date a loan given for a short period of time that is not dependent on credit history the amount of money borrowed excluding accrued interest an amount of time during which a loan can be repaid without interest

What is easy-access credit? credit that is to be repaid in full by a specific date a loan given for a short period of time that is not dependent on credit history the amount of money borrowed excluding accrued interest an amount of time during which a loan can be repaid without interest
Transcript text: What is easy-access credit? credit that is to be repaid in full by a specific date a loan given for a short period of time that is not dependent on credit history the amount of money borrowed excluding accrued interest an amount of time during which a loan can be repaid without interest
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Solution

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Answer

The answer is a loan given for a short period of time that is not dependent on credit history.

Explanation
Option 1: Credit that is to be repaid in full by a specific date

This option describes a type of credit that has a fixed repayment date, which is a characteristic of many types of loans, but it does not specifically define "easy-access credit."

Option 2: A loan given for a short period of time that is not dependent on credit history

This option accurately describes "easy-access credit." Such credit is typically available quickly and does not require a thorough credit check, making it accessible to individuals who may not have a strong credit history. Examples include payday loans or certain types of personal loans.

Option 3: The amount of money borrowed excluding accrued interest

This option refers to the principal amount of a loan, which is not specific to the concept of "easy-access credit."

Option 4: An amount of time during which a loan can be repaid without interest

This option describes a grace period, which is a feature of some credit arrangements but does not define "easy-access credit."

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