question archive A wealthy entrepreneur with excellent credit reputation co-signed the promotion of Myrtle (Borrower) on a P50, 000 loan

A wealthy entrepreneur with excellent credit reputation co-signed the promotion of Myrtle (Borrower) on a P50, 000 loan

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A wealthy entrepreneur with excellent credit reputation co-signed the promotion of Myrtle (Borrower) on a P50, 000 loan. He guaranteed the loan. Is this a secured loan? What kind of loan? Explain.

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