what is collateral?\n○ a type of unsecured credit\n○ property given as security for a loan\n○ funds borrowed…

what is collateral?\n○ a type of unsecured credit\n○ property given as security for a loan\n○ funds borrowed to buy property\n○ a payment to reduce overall debt

what is collateral?\n○ a type of unsecured credit\n○ property given as security for a loan\n○ funds borrowed to buy property\n○ a payment to reduce overall debt

Answer

Brief Explanations:

Collateral is an asset or property that a borrower offers to a lender as security for a loan. If the borrower defaults on the loan, the lender can seize and sell the collateral to recoup the money lent. Unsecured credit has no such security. Funds borrowed to buy property are a loan amount and a payment to reduce debt is a debt - repayment.

Answer:

property given as security for a loan