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Citrus2011 [14]
3 years ago
6

You owe $2,300 on your motorcycle. What type of debt is this?

Mathematics
2 answers:
frozen [14]3 years ago
5 0

Answer:

You owe $2,300 on your motorcycle. What type of debt is this?

This can be secured debt where the bike is used as a collateral. A secured loan or debt is one where a collateral is involved. This provides the lender the security and assurance that the borrower will pay them back the loan. If the borrower fails, the lender can seize the collateral.  

Setler [38]3 years ago
4 0
Im not entirely sure but i believe the answer is a secured dept.

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