Economics · Money and Banking

An asset that the borrower owns and uses as a guarantee to a lender until the loan is repaid is called:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Interest
2Credit
3Debit
4Collateral✓

Correct answer

Collateral

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An asset that the borrower owns and uses as a guarantee to a lender until the loan is repaid is called:

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An asset that the borrower owns and uses as a guarantee to a lender until the loan is repaid is called:

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