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Gary is in the process of buying a new home, and he decides to go to a savings and loan association to get a mortgage

Gary is in the process of buying a new home, and he decides to go to a savings and loan association to get a mortgage to help him pay for his home. In this scenario, Gary's new home is pledged as a guarantee, or _____ that he will repay the loan. Multiple Choice

premium

collateral

equity

trust

interest

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