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10 and 11 please! 6 Question 10 (1 point) Saved One employee, Bob, wants to buy a house, but does not have enough money to
10 and 11 please!
6 Question 10 (1 point) Saved One employee, Bob, wants to buy a house, but does not have enough money to cover its $50,000 price. Cathy the Banker agrees to lend Bob $40,000 on a mortgage, but only if Bob can provide the other $10,000 as a down payment. Bob only has $3000. Bob asks his sister, Debbie, for help with the down payment, and she lends him $2000. Bob then asks his brother. Ed, for help with the down payment, and Ed lends Bob the remaining $5000 on the condition that Bob puts up his motorcycle as collateral. For each of these loans, Bob will be the If Bob fails to make an agreed re-payment to any of the people who lent him the money, Bob will be in 4 15 Blank #1 17 11 debtor Blank #2 default 20 Question 11 (1 point) To protect themselves in case that happens, some of the above lenders can do something at the courthouse at the time that they lend Bob the money, Cathy can her loan Debble can her loan, Ed can his loan Blank #1 > El 3 Cuestion 12 11 point Cal to Step by Step Solution
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