8
QuizMultiple Choice

Personal Loans

Question 8 • 2025-2026 GSP Mathematical Reasoning for Decision Making

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? a. $3,100 b. $10,680.00 c. $12,000.00 d. $13,483.15 Please select the best answer from the choices provided

Answer
A
A
B
B
C
C
D
D
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Cindy would like to borrow money from her bank…