What do you mean by collateral
It is the total sum of money with the person
It is the things kept in the locker
It is guarantee given by the lender to the borrower
It is the security to a lender until the loan is repaid
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it is a security to a leader until the loan is repaid .
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Explanation:
The term collateral refers to an asset that a lender accepts as security for a loan. ... The collateral acts as a form of protection for the lender. That is, if the borrower defaults on their loan payments, the lender can seize the collateral and sell it to recoup some or all of its losses.
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