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
IrinaK [193]
3 years ago
14

Mike purchased his home five years ago for $250,000. Its current market value is $275,000 and has a mortgage balance of $195,000

. He wants to put in a pool and pay for it with a HELOC. If the lender requires a maximum LTV of 80%, what is the most Mike will receive from the proceeds of the HELOC?
Business
1 answer:
tekilochka [14]3 years ago
8 0

Answer:

$25,000

Explanation:

Given:

Purchase price of home = $250,000

Market value = $275,000

Mortgage balance = $195,000

Maximum LTV = 80%

Now,

The maximum amount of LTV = LTV × Market value

= 0.80 × $275,000

= $220,000

thus,

The maximum amount of HELOC = $220,000 - Mortgage balance

or

The maximum amount of HELOC = $220,000 - $195,000

or

The maximum amount of HELOC = $25,000

You might be interested in
In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.
Flauer [41]

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

5 0
2 years ago
What types of government policies might help to improve the unemployment situation for these would be job seekers?
nikklg [1K]

Answer:

Following are the suggestions to solve unemployment problem:

(i) Change in industrial technique:

(ii) Policy regarding seasonal unemployment:

(iii) Change in education system:

(iv) Expansion of Employment exchanges:

(v) More assistance to self employed people:

(vi) Full and more productive employment

Explanation:

3 0
3 years ago
Read 2 more answers
Gary's Pets hired a managerial accountant to help forecast the company's expenses and income for its first year in business. Thi
zimovet [89]

Answer:  The Annual report is the financial plan of Garys's Pets of moving strategy from Point A to Point B over for the year.

Explanation:

Every company furnishes and publishes its Annual Report for the public review per year. It can be considered as the Report which is formulated with the help of four subreports produced in each quarterly period. Point A is the stage of implementation of project of many plans. Then when the company achieves its target and then it can release a strong financial statement of the Annual Report.

The Annual Report not only administers the actual scenario of business development, but it also exhibits the good reputation of the company to attract more customers by adopting powerful business strategies.

7 0
3 years ago
What can hope do to change the numbers 2, 3, 5 and 6 to lowercase letters?
RideAnS [48]

Answer: D

Explanation:

Use the Mutlilevel List Icon

6 0
3 years ago
healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of
Leto [7]

Answer:

people

Explanation:

because I know ..........................

3 0
3 years ago
Other questions:
  • Malia is a partner of a small clothing company. This week she has been hosting a group of potential investors. Several of the po
    5·1 answer
  • In 2016, Gerald loaned Main Street Bakery $55,000. In 2017, he learned that he would probably receive only $6,400 of the loan. I
    5·2 answers
  • Fishing designs has arranged to borrow $13,000 today at 10% interest. the loan is to be repaid with end-of-year payments of $3,0
    9·1 answer
  • Maritime Marine Company has total estimated factory overhead for the year of $986,800, divided into four activities: fabrication
    14·1 answer
  • If a corporate bond with face value of $1,000 has an interest rate of seven percent paid once a year for a term of 10 years, wha
    6·1 answer
  • On March 2, 2015, Best Buy co. announced that it planned to repurchase up to $1 billion of its common shares. The company also a
    10·1 answer
  • Help is here, a wrecker company, will soon need to purchase a new wrecker. the company anticipates needing $35,000 in 3 years. t
    12·1 answer
  • Which country use tax brackets as a part of their tax system
    13·2 answers
  • An aging of a company's accounts receivable indicates that the estimate of uncollectible receivables totals $7,900. If Allowance
    12·1 answer
  • Liam is considering putting money in an investment plan that will pay him $52,000 in 12 years. If Liam's opportunity cost rate i
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!