Rachel wants to buy a house, fix it up, and rent it out. she cannot afford to do it on her own, so she and some friends from her book club agree to pool their money for the project. their arrangement could be known as a joint venture or as a

The statement above describes that Rachel's agreement that can also be known as a joint venture is a syndicate. A syndicate is where a group of people or an organization that has the will to join together in order to promote things that they shared, for example, their interests.