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41 votes
41 votes
Sam would like to use his extensive stamp collection as collateral for a secured loan. sam has documentation that says his stamp collection is worth $10,525.00. sam's bank has a policy that permits loan officers to lend no more than 82.5% of the value of the collateral. what is the maximum loan amount sam can get from his bank using his stamp collection as collateral? a. $8,683.13 b. $9,700.00 c. $10,525.00 d. $12,382.35 please select the best answer from the choices provided a b c d

User RoryKoehein
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1 Answer

30 votes
30 votes

Answer:

A on edge 2021

Explanation:

I got it correct.

User Arranjdavis
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