All categories

1 year ago

The loan-to-value ratio for a condominium purchased for $265,000 with a down payment of $53,000 is?

Business

1 answer:

Temka [501]1 year ago

6 0

The loan-to-value ratio for a condominium purchased for $265,000 with a down payment of $53,000 is 80%.

A loan is a loan of money by one or more individuals, entities, or other entities to another individual, entity, etc. Repayment amount of the principal borrowed.

A loan is a type of debt owed by an individual or other legal entity. A lender (usually a corporation, financial institution, or government) makes an advance payment to a borrower. In return, the borrower agrees to certain terms, including funding costs, interest, repayment dates, and other terms.

Learn more about loan here:brainly.com/question/26011426

#SPJ4

You might be interested in

Wexell Framing's cost formula for its supplies cost is $1,230 per month plus $10 per frame. For the month of October, the compan

Gnoma [55]

Answer:

The correct answer is $50 (unfavorable).

Explanation:

According to the scenario, computation of the given data are as follow:-

Planning supply activity cost = (592 × $10) +$1230

= $7,150

Actual supply activity cost = (597 × $10) + $1230

= $7,200

We can calculate the activity variance for supply cost by using following formula:-

Activity variance for supplies cost = Actual activity cost – Planning activity cost

= $7,200 - $7,150

= $50 ( positive shows unfavorable)

7 0

3 years ago

T/F Leaders are appointed by popular demand in formal groups.

Alla [95]

Answer:

Explanation:

hoped this helped

3 0

3 years ago

Gertie was sitting on her porch when she saw William, a person who lived down the street from her whom she occasionally spoke to

Paul [167]

Answer:

William would win the court ruling becuase Gertie saw the truck and knew it was going to hit william

Explanation:

4 0

3 years ago

A company has $99,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts.

quester [9]

Answer:

Dr Bad debt expense 3,070

Cr Allowance for doubtful accounts 3,070

Explanation:

$99,000 in accounts receivables

4% is considered bad debt

$99,000 x 4% = $3,960

the current balance for allowance for doubtful accounts = $890 (credit)

the adjusting entry for allowance for doubtful accounts = $3,960 - $890 = $3,070

the journal entry should be:

Dr Bad debt expense 3,070

Cr Allowance for doubtful accounts 3,070

the final balance of the allowance for doubtful accounts = $3,070 + $890 = $3,960

7 0

3 years ago

A method of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the

leva [86]

Answer:

First - in - First - Out (FIFO) method

Explanation:

The First - in - First - Out (FIFO) method, assumes that the first goods received by the business will be the first ones to be delivered to the final customer.

It assumes that goods have been used in the order in which they are purchased.

7 0

3 years ago