Annie would like to take out a loan to put a new playground in her yard for her kids. She offers her car which is worth $7,800 a
s collateral. The loan officer at the bank is permitted to loan Annie 92% of the value of her collateral. How much will Annie be able to borrow for the playground using her car as collateral? a. $7,708. 00 b. $7,176. 00 c. $7,800. 00 d. $8,478. 26 Please select the best answer from the choices provided A B C D.
