QuestionWhat payment method involves paying for an item in full upfront? Choose one: (A) rent-to-own, (B) layaway, (C) cash, (D) credit card.
Studdy Solution
STEP 1
Assumptions1. We are looking for a term that describes a payment method where the item is paid for in full upfront, without needing to borrow money or make payments over time.
STEP 2
We evaluate each of the given options to see which one fits the description.
(A) Rent-to-own This is a type of agreement that allows the renter to purchase the item at the end of the rental period. This does not fit our description as it involves making payments over time.
(B) Layaway This is a purchasing method where the buyer places a deposit on an item and pays off the balance over time. The item is only received after the full payment is made. This does not fit our description as it involves making payments over time.
(C) Cash This is a payment method where the buyer pays the full amount upfront. This fits our description as it does not involve borrowing money or making payments over time.
(D) Credit card This is a payment method that involves borrowing money to make a purchase. The borrowed amount is then paid back over time, often with interest. This does not fit our description as it involves borrowing money and making payments over time.
The term that describes the payment method where an item is paid for in full upfront, without needing to borrow money or make payments over time, is (C) Cash.
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