________ represents something of monetary value that can be sold in the event that loan payments are not made by the borrower.

Name: ________ represents something of monetary value that can be sold in the event that loan payments are not made by the borrower.
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Question

Quizplus · Accepted Answer

Collateral is an asset or property that an individual or entity offers to a lender as security for a loan. It is used to secure the loan and can be sold by the lender to recoup the loan amount if the borrower fails to make payments.

________ Represents Something of Monetary Value That Can Be Sold