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
Zolol [24]
3 years ago
11

A lender determines that a homebuyer can afford to borrow $220,000 on a mortgage loan. The lender requires an 85% loan-to-value

ratio. How much can the borrower pay for a property and still qualify for this loan amount (to the nearest $1,000)?
A: $187,000
B: $243,000
C: $254,000
D: $259,000
Business
1 answer:
Dmitry [639]3 years ago
7 0

Answer:

D: $259,000

Explanation:

The computation of the paying amount which borrower can pay for a property is shown below:

= Mortgage loan amount for borrow ÷  loan-to-value ratio

= $220,000 ÷ 85%

= $258,823.53

= $259,000 round off

We simply divide the mortgage loan by the loan to value ratio so that paying amount could arrive which borrower can pay for a property.

You might be interested in
The Durham-Mills Self-Administering Test of Mental Ability was the first group-administered mental ability test to have widespre
forsale [732]

Answer:

False

Explanation:

The Otis Self-Administering Test of Mental Ability was the first group-administered mental ability test to have widespread use in industry.

This test was first developed in 1922 by Arthur Otis. It was first designed to measure students' general school abilities. Otis's first tests were designed for the Army in 1917 and were known as the Alpha tests (for those who could read) and the Beta tests (for those who couldn't read).

7 0
3 years ago
A leasea) Must be for at least one yearb) Conveys the right of occupancy to anotherc) Must include the landlord paying the taxes
Y_Kistochka [10]

Answer:

b) Conveys the right of occupancy to another

Explanation:

A lease is an agreement made between a lessee and a lessor for using an asset. A lessee is a user who pays to the lessor who is the owner for any asset which can be a building, property or a vehicle. The lessee owns the right to use the asset by paying to the lessor for the fixed duration. Usually, the asset put into a lease are tangible but can be intangible too.

3 0
3 years ago
If you were starting a new business describe at least three departments to the company that you would need right away why are th
Dimas [21]

Answer:

Explanation:

These departments are as follow:-

1) Admin

2) Administrative

3) HOD (Head Of Departments)

6 0
3 years ago
A furniture company in the United States works with a plant in India to make wooden desks. The U.S. company designs the desks, a
Rudiy27

Answer: Globalization

Explanation: Globalization can be defined as the process under which the the company starts operating its business internationally, that is, in companies other than which it is incorporated.

In the given case, the company in the business is incorporated in USA but is using Indian labor for its manufacturing process and a Taiwan company for its shipping purposes.

Hence, we can conclude that the given case is an example of Globalization.

8 0
3 years ago
Read 2 more answers
Upon graduating from UCI, you start a job in finance earning $72,000 per year and decide to buy a home. You can afford to pay no
madreJ [45]

Answer:

$209,461  

Explanation:

The maximum size home loan the employee can afford is computed using the pv formula in excel as below:

=-pv(rate,nper,pmt,fv)

rate is the annual interest rate of 4% divided by 12 months

nper is the number of months the payment of $1000 would be paid i.e 30*12=360

pmt is the monthly payment which is $1000

fv is the future worth of total repayments which is unknown

=-pv(4%/12,360,1000,0)=$209,461  

4 0
3 years ago
Other questions:
  • The 2003 iraqi war destroyed large amounts of capital. later, insurgent activity continued to destroy capital and created instab
    13·1 answer
  • Henrique​ Correa's bakery prepares all its cakes between 4 A.M.and 6 A.M.so they will be fresh when customers arrive.​ Day-old c
    10·1 answer
  • Gunst Company produces three video games: Android, Bio-Mutant, and Cyclops. Cost and revenue data pertaining to each product are
    7·1 answer
  • Delta Diamonds uses a periodic inventory sistem. The company had five one- carat diamonds available for sale this year: one was
    15·1 answer
  • entrepreneurs are the back of the nation.in line with this statement evaluate the contribution of entrepreneurs to the nation by
    13·1 answer
  • The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was model
    6·1 answer
  • As part of your plan to lead the change effort to increase team productivity, you want to build momentum by generating short-ter
    6·1 answer
  • How does online retail have the potential to further complicate the issues already presented by the virus?
    6·1 answer
  • HELP!<br> You should always emphasize a word in the middle of a sentence.<br> A.True<br> B.False
    11·2 answers
  • WILL GIVE BRAINLIEST A business owner is aware that the Department of Labor has created rules that require overtime pay for empl
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!