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12 September, 10:32

Cindy would like to borrow money from her bank to restore her collectible car. It will take $12,000 to fully restore the car. Cindy's bank offers secured loans at 89% of the collateral value. How much collateral does Cindy need to offer to get a loan big enough to allow her to fully restore her car?

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  1. 12 September, 13:51
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    Cindy would need to have enough collateral for 10,680 dollars.
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