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26-04-2021
Business

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Homer wants to borrow money from the springfield bank to buy a trampoline. The bank requires collateral for loan what is collateral ?

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kjmcguire kjmcguire

26-04-2021

Answer:

Collateral is a downpayment for the loan

Explanation:

Collateral is basically saying I'll give you what I have right now for this and when I get on my feet ill be able to pay you back then

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