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The purpose of collateral in a secured loan agreement is to: a.Reduce the expense of administering the loan. b.Make lenders indifferent to the default risk

The purpose of collateral in a secured loan agreement is to:

a.Reduce the expense of administering the loan.

b.Make lenders indifferent to the default risk of the loan.

c.Increase the rate borrowers are willing to pay for funds.

d.Reduce the lender's risk.

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