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Cindy would like to borrow money from her bank to restore her collectible car.  It will take $12,000 to fully restore the car.  Cindy's bank offers secured loans at 89% of the collateral value.  How much
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Cindy would like to borrow money from her bank to restore her collectible car.  It will take $12,000 to fully restore the car.  Cindy's bank offers secured loans at 89% of the collateral value.  How much collateral does Cindy need to offer to get a loan big enough to allow her to fully restore her car?

User Mateusz Kleinert
by
7.7k points

2 Answers

2 votes

Answer:

The answer is D. $13,483.15

Explanation:

User Ryyst
by
8.9k points
0 votes

Answer:

d

Explanation:

i took the test

User AlvinfromDiaspar
by
7.9k points
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