1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
cupoosta [38]
3 years ago
5

Acme Home Lending offers home equity loans up to 80% of the home value for its customers. If Sally Johnson has a home valued at

$200,000 and a current mortgage of $50,000, how much can she borrow in a home equity loan from Acme?
a) $50,000
b) $80,000
c) $110,000
d) $150,000
e) $160,000
Business
1 answer:
Ivenika [448]3 years ago
7 0

Answer:

c) $110,000

Explanation:

The computation of the borrowing amount is shown below:

= Value of home × given percentage - current mortgage amount

= $200,000 × 80% - $50,000

= $160,000 - $50,000

= $110,000

For computing the accurate value, we have to deduct the current mortgage amount from the net value of home.

Since only 80% is related to the home value so we take only 80% and rest 20% would be ignored.

You might be interested in
A restaurant bill is made up of the following: $12.50 for starters, $28.55 for main courses, and $8.95 for deserts, plus a 15% s
Alina [70]

Answer:

The bill is $57.5

Explanation:

The computation of bill is shown below:

= Price for starters + price for main course + price for deserts + service charge tax

= $12.50 + $28.55 + $8.95 + $7.5

= $57.50

The service charge would be calculated by considering all food costing.

In mathematically

= Service tax rate × ( Price for starters + price for main course + price for deserts)

= 15% × ($12.50 + $28.55 + $8.95)

= 15% × $50

=$7.5

Hence, the bill is $57.5

7 0
2 years ago
What is a secured loan
Anon25 [30]
" A secured loan is, a loan in which borrower pledges some asset as calateral for the loan, which them becomes a secured dept owned to the creditor who gives the loan."
8 0
3 years ago
Read 2 more answers
Which of the following would cause a leftward shift of the supply curve for computers? A. an increase in the price of printed ci
Margaret [11]

Answer:

The answer is A.

Explanation:

All other things being equal, an increase in the cost of production of a product will decrease the units of the product being reduced and this reduction in supply shifts the supply curve to left while a decrease in the cost of production will increase the units of the product being produced and this shifts the supply curve to the right.

Printed circuit boards is one of the materials used to build computers and since the price has increased, the cost of producing computer also increases and this will make the producers to produce less, shifting the supply curve to the left.

6 0
2 years ago
PLEASE HELP ASAP, I NEED TO DO THIS BUT DONT KNOW HOW TO. Describe how free markets solve the problem of coordination. Why do co
Strike441 [17]
The advantage of a free market economy is that when it works it can both be reward and perpetuate innovation But they are inherently more risky and does tend to favor those more capital and resources . In an Economic make system with multiple equilibria coordination failure occurs when a group of firms could achieve a more desirable equilibrium but fail to because they do not coordinate their decision making
6 0
2 years ago
A credible online source is less likely to include
Nezavi [6.7K]
2) as opinions should be left out of factual articles and credible sources
7 0
2 years ago
Read 2 more answers
Other questions:
  • Predict how the price of athletic shorts would change if schools banned their use.
    5·1 answer
  • When talking about economic resources, capital refers to which of the following?
    12·2 answers
  • Bill and Nancy, managers at Sanzen Inc., want to the check the consistency of results for a performance measure that uses rating
    6·1 answer
  • Entrepreneurs drive innovation in a free-market system by introducing ________.
    8·1 answer
  • Government survey takers determine that typical family expenditures each month in the year designated as the base year are as fo
    5·1 answer
  • Tell Me Why Co. is expected to maintain a constant 6 percent growth rate in its dividends indefinitely. If the company has a div
    15·1 answer
  • Your company is experiencing difficult times and must lay off 52 workers, many of whom have been with the company for a number o
    12·1 answer
  • The markets for movie theater tickets and videocassette rentals are highly interdependent.Suppose that a tax is imposed on movie
    14·1 answer
  • Question number 6 I need help
    12·1 answer
  • According to the theory of comparative advantage, countries and the world gain from trade because quizlet
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!