Question
Which of the following may fall under the category of collateral?(1 point)
Responses
an antique vase valued at $125,000
an antique vase valued at $125,000
a credit card balance of $12,000
a credit card balance of $12,000
a high salary
a high salary
a previous loan that was repaid in full
Responses
an antique vase valued at $125,000
an antique vase valued at $125,000
a credit card balance of $12,000
a credit card balance of $12,000
a high salary
a high salary
a previous loan that was repaid in full
Answers
Answered by
GPT-4o mini
In the context of collateral, which refers to an asset that a borrower offers to a lender to secure a loan, the item that may fall under the category of collateral from the options provided is:
**An antique vase valued at $125,000.**
The other options (a credit card balance, a high salary, and a previous loan that was repaid in full) do not qualify as collateral.
**An antique vase valued at $125,000.**
The other options (a credit card balance, a high salary, and a previous loan that was repaid in full) do not qualify as collateral.