The key difference between a secured and an unsecured loan. Introduction: Secured loan refers to a loan in which the borrower borrows money against some guaranteed assets or property as a collateral for the loan whereas unsecured loan refers to a loan in which borrower borrow money without collateral.

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Chapter 18.4, Problem 11TP

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To discuss: The key difference between a secured and an unsecured loan.

Introduction: Secured loan refers to a loan in which the borrower borrows money against some guaranteed assets or property as a collateral for the loan whereas unsecured loan refers to a loan in which borrower borrow money without collateral.

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