Question

BRAINLIEST IF CORRECT!!!!



Which of the following is NOT an advantage of Installment Plans?
A. Helps create a higher standard of living
B. People can borrow more than they can afford
C. Allows people to build equity and wealth
D. Allows the purchase of otherwise unaffordable goods​

Answer 1

Answer:

a

Explanation:

thats not how installment plans work. that's not their goal if im correct

Answer 2

Helps create a higher standard of living is not an advantage of Installment Plans. Thus, option (a) is correct.

What is installment?

The term “installment” refers to one part of payment that is divided into multiple parts of payment. The debtors are borrowing money from financial institutions and other sources. The fixed payment is divided into small amounts of money to be paid on a monthly basis.

The monthly installment, another name for it, is equated monthly installment (EMI). The installment plans are a break from the actual amount of payment with interest. The installment plan is divided into monthly, half-yearly, and quarterly installments.

The benefits of installment plans include reduced financial stress, improved budget management, meeting emergency needs, and the ability to choose installment plans.

Therefore, option (a) is correct.

Learn more about on installment plans, here:

https://brainly.com/question/10554704

#SPJ2