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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.

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2 years ago
If the fed raised the reserve requirement, the demand for reserves would.
Ilya [14]

In a scenario where the fed raise the reserve requirement, the demand for reserves would increase.

<h3>What is a reserve requirement?</h3>

A reserve requirement simply means the amount of money that banks are expected to keep with the central bank.

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Learn more about reserve requirements on:

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8 0
2 years ago
Jenny's bakery makes two types of birthday cakes: yellow cake, which sells for $25, and strawberry cake, which sells for $35. Bo
Dmitry_Shevchenko [17]

Answer: Revenue is maximum at x=25 and y=0. That is when the firm makes only yellow cakes and no strawberry cakes.

Explanation:

x- Number of Yellow cakes

y- Number of Strawberry cakes

Time constrain is given by

2x+3y\leq 450

x\geq 0

y\geq 0

Revenue is given by,

TR= 25x + 35y

At the vertices, revenue is

At (0,0)

TR = $0

At (0,150)

TR = 25(0) + 35(150) = $5,250

At (225,0)

TR = 25(225) + 35(0) = $5,625

Therefore, Revenue is maximum at x=25 and y=0. That is when the firm makes only yellow cakes and no strawberry cakes.

8 0
2 years ago
ASAP HELP ME PLEASE , GIVING BRAINLIEST TO CORRECT AWNSER
artcher [175]

Answer:

C

Explanation:

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3 0
3 years ago
Nathan works as an accountant for a mid-sized retail store. He has just completed a trial balance that resulted in no unexpected
faust18 [17]

Answer:

The next task for Nathan is likely to be:

  • Preparing the store's balance sheet.
  • Also to prepare other major financial statements.

Explanation:

Here, it is given that Nathan works as an accountant for a mid sized retail store. His tasks completed are a trial balance which has resulted in neither of the unexpected problems.

So, the next task for Nathan will be :

  • preparing the store's balance sheet.
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The reports and all the major financial statements which are prepared by the accountants gives all the necessary informations that are used both in outside and the inside of the organisations for various decision making.

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3 years ago
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