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Kirby and Marsha are college students. Kirby is always complaining about her class load and says she feels constantly fatigued. Although Marsha has a heavier class load and works part-time, Marsha rarely complains and does not appear as fatigued as Kirby. Which of the following statements is most likely TRUE?
Loan Payments
Regular payments made by a borrower to a lender to repay a loan according to the agreed-upon terms.
Financing Statement
A document that lists the names and addresses of all the parties involved in the transaction, a description of the collateral, and the signature of the debtor.
Perfect
In legal and financial contexts, to complete the necessary legal steps to secure a lien or claim on property as a security interest.
Collateral
Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.
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