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José wants to have money available for any future purchase he desires. what is his best choice to assure that he has open-ended credit?

Sagot :

The best choice that would assure and guarantee that José has open-ended credit is:  a bank line of credit.

Line of credit

A credit can be any amount of money that is being borrowed  and it is expected to be paid back with interest at an agreed date from a lender by a borrower.

Generally, there are three main types of credit and these include:

  • Revolving credit
  • Installment or closed-end credit
  • Open-end credit

An open-end credit refers to pre-approved line of credit (loan) that is given to a borrower by a economic institution (bank) and it can be used frequently up to a specific preset limit. Thus, an open-end credit is typically used for many investments over a period of time rather than just a single investment.

To learn more about line of credit visit the link

https://brainly.com/question/3255380

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