Mathematics, 24.03.2020 12:41 yoyo1542
Sam would like to use his extensive stamp collection as collateral for a secured loan. Sam has documentation that says his stamp collection is worth $10,525.00. Sam's bank has a policy that permits loan officers to lend no more than 82.5% of the value of the collateral. What is the maximum loan amount Sam can get from his bank using his stamp collection as collateral? Please show answer step by step to make easier to understand.
Answers: 2
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Sam would like to use his extensive stamp collection as collateral for a secured loan. Sam has docum...
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