Value of the house = $100,000
Amount owed = $60,000
Bank requirement is 90%
Therefore, the biggest home equity line of credit they can get is
= ($100,000 - $60,000) * 90%
= $40,000 * 90/100
=$36000
Home Equity Line Of Credit or HELOC is a variable-rate loan which allows to borrow a part of the pre-approved amount offered by the bank. This loan works similar to how a credit card works.
Similar to a home loan, the houses serve as collateral and repayment will include principal and interest. The repaid amount can be re-borrowed like a credit card.
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Answer:
revenue tariff
Explanation:
A revenue tariff is a tax levied on imported goods or services whose main purpose is to increase government revenue. It differs from other types of tariffs whose goal is to protect domestic products. E.g. a flat tariff levied on all types of imported goods.
The CPSC make rules following a scientific process to understand and be able to allow products in the market. They require safety procedures and inspection. Failure to follow their rules and standards would end to rejection and total ban. The CPSC strictly adheres and had been given the authority with their procedure for safety.
Answer: Filling the blanks, we get:
A fixed exchange rate is one that is set by a country's central bank. A fixed exchange rate is achieved by the intervention of the central bank in the area of foreign exchange.
Explanation: In foreign exchange we have two types of exchange rates, we have the flexible exchange and fixed exchange rate. The flexible exchange rate is an exchange rate controlled by the forces of demand and supply. While on the other hand a fixed exchange rate is an exchange rate set by a country's government by making deliberate payments to keep the exchange rate fixed.
Answer:
d. II and IV.
Explanation:
Since the investor has been making payments into a variable annuity for the last 20 years and decides to annuitize and selects a straight-life payout. The following statements would be true;
a. the investment risk is assumed by the customer.
b. the amount of the payment to the customer is not guaranteed.
An annuity is an agreement between an investor (contract owner) and an insurance company, where he or she gives a lump-sum of money to the insurer and in return receives regular disbursements, either immediately or some time in the future. It offers the following covers, legacy planning, primary protection, healthcare costs, lifetime income etc.
Annuities are generally classified into two (2) categories mainly; Fixed and Variable annuities.
Under the variable annuity, the investment risk is assumed by the customer (investor) unlike what is obtainable in the fixed annuity.
Ultimately, the performance of the separate account impacts the amount of the payment. Thus, the payment might decrease, increase, or even remain the same since the amount of the payment to the customer (investor) isn't guaranteed.