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Pawnshop

usgb/ˈpɔːnʃɑːp/Volume
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Loan CollateralPlay
A pawnshop holds your items as security, called collateral, until you repay the loan. SlideShe used her vintage watch as collateral at the pawnshop.
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Repayment PeriodPlay
You have a set time to repay the loan to the pawnshop or they can sell your item. SlideJohn had two months to repay the pawnshop before they sold his laptop.
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Interest RatesPlay
Pawnshops often have high interest rates on loans they give for pawned items. SlideThe interest rate at the pawnshop was 20% per month.