Pisey needs $ 8,000 for her pig farm. After Sisey Pisey told her about the $ 8,000 she needed, the bank said she had collateral, such as a house, because borrowing, in principle, requires the bank to have collateral. Sister Pisey says I mortgaged the title deed to get a $ 8,000 loan from the bank. The bank assessed the land and told Pisey to borrow $ 25,000 (by submitting the land title), otherwise, the bank would not lend her $ 25,000, not $ 8. $ 000) Do you agree? Sister Pisey said that I only need $ 8,000, $ 25,000 is more than I need! The bank said it was likely to force her to borrow $ 25,000. Finally, Pisey gave up the loan, fearing that the bank would not be able to confiscate land worth more than 25,000. Dollars.

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Answer rating: 100% (QA)

From the information provided it seems like Pisey needed 8000 for her pig farm and approached a bank for a loan The bank assessed her collateral which ... View the full answer