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A line of credit is the _____ amount of credit a bank will provide a borrower at any one time.

average annual maximum minimum

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A line of credit is the _____ amount of credit a bank will provide a borrower at any one time.

average annual maximum minimum

Answer

A line of credit is the MAXIMUM amount of credit a bank will provide a borrower at any one time.
Line of credit is an agreement between the customer and a financial institution, usually a bank.
The agreement establishes a maximum amount that the customer can borrow from the bank at any given time.
Customer can draw from the line of credit as long as he or she does not exceed the maximum limit imposed on it.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 24 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 193 views.

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