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6 February, 11:24

Select the correct answer.

What is collateral?

A. the money used for a down payment on a loan

OB. the assets used to secure a loan

OC. the closing costs associated with obtaining a loan

OD. the lien filed by the lender

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Answers (2)
  1. 6 February, 11:32
    0
    either a or b i think it is a

    Step-by-step explanation:

    Collateral is a piece of property that a borrower promises to give to a lender if they are unable to pay back a loan.
  2. 6 February, 11:36
    0
    OB. the assets used to secure a loan

    Step-by-step explanation:

    You use collateral to decrease the risk for the bank. It can be like a car, or house. If you don't pay them back, they take the car or house.
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