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Homer wants to borrow money from the Springfield Bank to buy a new trampoline. The bank requires collateral for a loan. What is collateral?

a.a signed statement that the loan will be repaid
b.an increased interest rate for a high risk loan
c.something of value which the bank will receive if the loan is not repaid
d.money deposited in the bank which is greater than the amount of the loan

User Dbn
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1 Answer

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C. something of value which the bank will receive if the loan is not repaid

User Tejogol
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