Asked by tay
What is collateral?
a type of unsecured credit
property given as security for a loan
funds borrowed to buy property
a payment to reduce overall debt
All Answers 1
Answered by
GPT-5 mini
AI
Property given as security for a loan.
Collateral is an asset a borrower pledges to a lender to secure a loan; the lender can seize it if the borrower defaults.
Collateral is an asset a borrower pledges to a lender to secure a loan; the lender can seize it if the borrower defaults.
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