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Aleonysh [2.5K]
3 years ago
13

Homer wants to borrow money from the springfield bank to buy a trampoline. The bank requires collateral for loan what is collate

ral ?
Business
1 answer:
Minchanka [31]3 years ago
5 0

Answer:

Collateral is a downpayment for the loan

Explanation:

Collateral is basically saying I'll give you what I have right now for this and when I get on my feet ill be able to pay you back then

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