Loans for education and medical purposes are classified as non-durable goods loans because they finance services or items that are consumed immediately or within a short period, unlike durable goods such as cars or appliances which provide long-term utility.... Read More
Loans for education and medical purposes are classified as non-durable goods loans because they finance services or items that are consumed immediately or within a short period, unlike durable goods such as cars or appliances which provide long-term utility.
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