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evablogger [386]
2 years ago
13

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?
Business
1 answer:
EastWind [94]2 years ago
7 0

Answer:

She can borrow $110,000 in a home equity loan from Acme

Explanation:

Home equity loan is available to the 80% of the Home value. sally has already a mortgage of $50,000 so she can only borrow the differential amount of Allowable loan and existing loan.

As per given data

Home value = $200,000

Allowable Loan limit = $200,000 x 80% = $160,000

Existing Loan = $50,000

Available limit of Loan = Allowable Loan limit - Existing Loan = $160,000 - $50,000 = $110,000

She can borrow $110,000 in a home equity loan from Acme

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Answer:

Answer is option A, i.e. systematic sampling.

Explanation:

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3 0
3 years ago
Effective managers understand the importance of clear communication using different channels to advance the _________ strategy.
algol13

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4 0
2 years ago
IDPSs can help the organization protect its assets when its networks and systems are exposed to ____________________ vulnerabili
zhannawk [14.2K]

Answer:

The correct answer is Known vulnerabilities.

Explanation:

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5 0
3 years ago
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katrin [286]

Answer:

40%

Explanation:

Total assets. $240,000

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Explanation:

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