Describe the difference between a fixed installment loan and an open$-$end installment loan.

Choose the correct answer below.

A$.$ To acquire a fixed installment loan, a credit check using reports and scores is required$-$credit reports and scores are not used to give an open$-$end installment loan.

B$.$ An open$-$end installment loan has a schedule for paying a fixed amount each period, while an open$-$end installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate.

C$.$ A fixed installment loan has a schedule for paying a fixed amount each period, while an open$-$end installment loan requires a minimum monthly payment that depends on the unpaid balance and interest rate.

$$ D$.$ To acquire an open$-$end installment loan, a credit check using reports and scores is required $-$ credit reports and scores are not used to give a fixed installment loan.