Question

Anya runs a dog wash and spa service. She has to purchase basic, low-cost work supplies on a regular basis. She budgets a specific amount of money to buy these goods each month. Which type of credit would be most helpful and least risky for her? (5 points)
Installment credit

Secured credit card

Service credit

Bank loan

Answer 1

The answer is Secured credit card. It is used to pay the needed materials but she needs to pay it every month. This has interests so she needs to consider her debts and the profit she can get from her business.

Answer 2

Answer:

The type of credit that would be most helpful and least risky for her is a Secured credit card.

Explanation:

Anya has to make some purchases every month, this means that they are programmed, that's the reason why a secured credit card has the best banking format to perform in this way. This kind of card is linked to an account where there's a quantity that can cover the monthly payment in case the cardholder is not able to. Besides interest rates are lower in this kind of card.