______ involve the gradual reduction of the principal amount owed until full repayment is made and the credit agreement ends.

Hire purchase agreement

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Installment loans

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Lease financing

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None of the above

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Solution

The correct option is B Installment loans
An installment loan is a type of loan that is repaid over time, mainly in two installments. Installation loans involve the gradual reduction of the principal amount owed until full repayment is made and the credit agreement ends.

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______ involve the gradual reduction of the principal amount owed until full repayment is made and the credit agreement ends.

The correct option is B Installment loansAn installment loan is a type of loan that is repaid over time, mainly in two installments. Installation loans involve the gradual reduction of the principal amount owed until full repayment is made and the credit agreement ends.

The correct option is B Installment loans
An installment loan is a type of loan that is repaid over time, mainly in two installments. Installation loans involve the gradual reduction of the principal amount owed until full repayment is made and the credit agreement ends.