Question

what do you mean by collateral??​

Answer 1

Answer:

Collateral is an asset that a lender accepts as security for a loan. If the borrower defaults on the loan payments, the lender can seize the collateral and resell it to recoup the losses

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Answer 2

Hello!!♠️Answer ...

✔collateral is defined as something side by side,or something pledged to guarantee that a loan will be repaid.....✔

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♣️hope it helps u..♣️

...thank yuh:-)✔