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Instructions: Identify the Terms and Briefly State Their Historical Significance

question 79

Essay

Instructions: Identify the terms and briefly state their historical significance.
Zhu Yuanzhang


Definitions:

Secured Loan

A loan backed by collateral, reducing the risk for lenders and often resulting in more favorable loan terms for the borrower.

Unsecured Loan

A loan that is issued and supported only by the borrower's creditworthiness, without any collateral.

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