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
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

You might be interested in
​you consider the situation, roll up your sleeves, and get to work. what should be the first step you take in obtaining the info
Alina [70]
The first step would be: define the problem that needs to be solved.
Before we started colelcting information, we need to distinguish which type of information would be considered as 'relevant' and could aid us in achieving our goals. In climbing the Esports industry, this could involve most efficient way of training, nutrition necessary to icnrease gaming concentration, the strength of competitors, etc.
5 0
3 years ago
A price maker is
Allisa [31]
D. a firm that has some control over the price of the product it sells
4 0
3 years ago
Read 2 more answers
Your parents are giving you $205 a month for 4 years while you are in college. At an interest rate of .48 percent per month, wha
luda_lava [24]

Answer:

$8,770.00

Explanation:

In this question we use the present value formula i.e shown in the attachment below:

Data provided in the question

Future value = $0

Rate of interest = 0.48%

NPER = 4 years × 12 months = 48 months

PMT = $205

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $8,770.00

7 0
3 years ago
If you have several calls coming in at one time, you should
gregori [183]
I believe the answer is D.
4 0
3 years ago
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Colu
Illusion [34]

Answer:

Hie, there is <em>no correct answer</em> from the Options provided.

The Net Profit Under absorption costing, for November would be $7,460.

This is can be calculated from reconciling the Variable Costing profit to Absorption Costing profit or Alternatively from Preparing Absorption costing statement as shown below:

<u>Absorption Costing Income Statement for November.</u>

Sales                                                                           765,000

Less Costs of Goods Sold

Opening Stock (8,650×14)                       121,100

Add Cost of Manufacture (35,120×14)  491,600

Less Closing Stock (1270×14)                  (17,780)    594,920

Gross Profit                                                                170,080

Less Expenses

Variable selling expense                                           127,500

Fixed Selling and administrative                                35,120

Net Income / loss                                                            7,460

4 0
3 years ago
Other questions:
  • Of these common educational requirements for Finance careers, select those you are most interested in achieving. Check all that
    12·2 answers
  • Choose all that apply.
    10·1 answer
  • When it comes to investing, what is the typical relationship between risk and return?
    15·2 answers
  • Your friend says your car is worth about 50 dollars. Your friend is using money as a
    9·2 answers
  • Tempo Corp. will issue preferred stock to finance a new artillery line. The firm's existing preferred stock pays a dividend of $
    9·1 answer
  • Which scenario is an example of a true ethics dilemma? a. Sure-Good Soup Company is thinking about using more expensive organic
    10·1 answer
  • In the short​ run, a monopolistically competitive firm will A. select the rate of output where price equals marginal cost. B. ma
    15·1 answer
  • Select the desktop publishing programs.
    12·1 answer
  • I need money to buy something.
    6·1 answer
  • Which theory would most likely explain why a commercial bank, which usually focuses on short-term securities, would switch to lo
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!