Value of the house = $100,000
Amount owed = $60,000
Bank requirement is 90%
Therefore, the biggest home equity line of credit they can get is
= ($100,000 - $60,000) * 90%
= $40,000 * 90/100
=$36000
Home Equity Line Of Credit or HELOC is a variable-rate loan which allows to borrow a part of the pre-approved amount offered by the bank. This loan works similar to how a credit card works.
Similar to a home loan, the houses serve as collateral and repayment will include principal and interest. The repaid amount can be re-borrowed like a credit card.
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Answer:
the value of the stock as on Feb 4 is $15,920
Explanation:
The computation of the value of the stock as on Feb 4 is shown below:
The New stock price is
= $82.75 per share - $3.15 per share
= $79.60 per share
Now the value of the stock would be
= Number of shares of stocked owned × new stock price
= 200 shares × $79.60 per share
= $15,920
Hence, the value of the stock as on Feb 4 is $15,920
Answer:
TRUE The Statement is correct
Explanation:
We need to add up both advertizement contract to knwo the total acquisition cost of the advertizement.
<u>First contract cost:</u>
365 daysper year / 7 dayts per week = 52 week per year
52 week per year x $20 dolllar per weke = $1,040
<u>Second contract cost:</u>
12 months per year x $100 per month = $1,200
Total acquisition cost: 2,240
Based on the information given this type of purchase is classified as a: C. straight rebuy.
<h3>What is straight rebuy?</h3>
Straight rebuy can be defined as the way in which a company or an organization rebuys a product from the same suppliers on a continuous basis or routine basis.
Some companies tend to often re-orders a product from the same supplier or list of supplier they have at hand without having to change to another supplier.
Inconclusion this type of purchase is classified as a: C. straight rebuy.
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