The nature of the Federal Reserve can best be described as follows: A private corporation with no government presence.

The Fed branches and the Board of Governors are private enterprises, but a
federal oversight committee in Congress advises the Fed.

A government agency with no private presence.

The Fed branches are owned by the government, but the Board of Governors are
private citizens.

A blended public-private institution.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

His ballance should be $65

The correct answer is step.