Noninstallment credit includes which of the following?

Noninstallment credit encompasses financial arrangements that do not require regular installments for repayment. This type of credit is characterized by either a single-payment structure where the total amount borrowed is paid back at once or an open-end credit system that allows ongoing borrowing up to a set limit.

Single-payment credit refers to loans or purchases where the entire amount is due at a specified future date, such as a payday loan. In contrast, open-end credit, like credit cards, permits consumers to borrow up to a certain limit and pay back that amount over time, as long as they stay within the credit limit.

Because noninstallment credit includes both these forms of borrowing, the correct answer recognizes that both single-payment loans and open-end credit are included within this definition. This holistic view of noninstallment credit captures the diversity of repayment structures available to consumers. The other options narrow the focus incorrectly by isolating one type of noninstallment credit instead of acknowledging that both types exist under this category.