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What term describes money borrowed that is backed up with something of value in case the borrower can't pay it back?
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5 votes
What term describes money borrowed that is backed up with something of value in case the borrower can't pay it back?

User Cheersmate
by
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2 Answers

3 votes

Answer: secured debt

Step-by-step explanation:

Secured debt is money borrowed that is guaranteed (or secured) by the borrower’s funds or assets and held by the lender in an interest-bearing account.

User Loki
by
9.0k points
4 votes

Answer:

Collateral

Step-by-step explanation:

User Stanimir Dimitrov
by
8.3k points
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