Secured debt is a debt that is guaranteed by something of value. Which one of
the following is an example of a secured debt?
A. You owe your mom $95 for your new soccer cleats.
B. You owe your financial institution $1,500 on your used car loan.
C. You owe $1,800 on your credit card
D. Your checking account is overdrawn and you owe a $25 bounced check fee.
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