Answer D is incorrect because it repeats the same information in two phrases: "use (something) as collateral" and "borrow against (something)." It is enough to use only one of these expressions. Thus answer D is redundant. Moreover, the preposition "against" should not be placed at the end of the modifier. It should be close to the noun that it refers to ( "collateral").
Answer E corrects both mistakes. It uses the less wordy modifier "the collateral
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Answer E corrects both mistakes. It uses the less wordy modifier "the collateral
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