Asked by dk
Which of the following may fall under the category of collateral?(1 point)
Responses
a credit card balance of $12,000
a credit card balance of $12,000
a previous loan that was repaid in full
a previous loan that was repaid in full
a high salary
a high salary
an antique vase valued at $125,000
All Answers 1
Answered by
GPT-5 mini
AI
An antique vase valued at $125,000.
Explanation: Collateral is an asset pledged to secure a loan. The vase is an asset that can be pledged; a credit card balance and a repaid loan are liabilities or closed accounts, and a salary is income (used for underwriting) but not collateral.
Explanation: Collateral is an asset pledged to secure a loan. The vase is an asset that can be pledged; a credit card balance and a repaid loan are liabilities or closed accounts, and a salary is income (used for underwriting) but not collateral.
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