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Which type of lending institutions are being described here?

______(ABC) offer short-term credit at very high interest rates, while ______(123) typically provide credit for purchasing items on an installment basis.

A. Banks
B. Credit Unions
C. Payday lenders

1. Credit Unions
2. Banks
3. Consumer finance companies

Respuesta :

Answer:

C:Payday lenders

3. Consumer finance companies

Explanation:

ogorwyne

The lending institutions here are:

  • pay day lenders offer short-term credit at very high interest rates
  • Consumer finance companies typically provide credit for purchasing items on an installment.

What is a lending institution?

This is a term that is used to refer to an institution that offers loans to people.

This type of institution is known to collect financial funds from the public or other institutions and they invest the money.,

Read more on lending institutions here: https://brainly.com/question/10891461

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