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What do you mean by collateral ? (1) It is the total sum of money with a person (2) It is things kept in the locker (3) It is guarantee given by the borrower to the lender (4) It is the security to a lender until the loan is repaid |
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Answer» Correct option (4) It is the security to a lender until the loan is repaid Explanation: Collateral means something pledged as security for repayment of a loan, to be forfeited in the event of a default. |
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