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Scilla [17]
3 years ago
11

A few years ago, Simon Powell purchased a home for $155,000. Today, the home is worth $260,000. His remaining mortgage balance i

s $105,000. Assuming that Simon can borrow up to 70 percent of the market value, what is the maximum amount he can currently borrow against his home?
Business
1 answer:
lisov135 [29]3 years ago
7 0

Answer:

$77,000

Explanation:

In this scenario the present value of Simon's home is $250,000. It appreciated from purchase price of $155,000

Simon is allowed to borrow 70% of the market value.

Percentage of present value= 0.7 * 260,000

Percentage of present value= $182,000

But he has a mortgage balance of $105,000. This amount will be deducted from $182,000 to give the amount he can borrow

Amount he can borrow= 182,000- 105,000 = $77,000

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Answer:

20m/s due east

Explanation:

Given parameters:

Displacement  = 180m due east

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Unknown:

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Solution:

The average velocity is the displacement divided by the time taken;

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Insert the parameters and solve;

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dalvyx [7]

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