Answer:
c) $110,000
Explanation:
The computation of the borrowing amount is shown below:
= Value of home × given percentage - current mortgage amount
= $200,000 × 80% - $50,000
= $160,000 - $50,000
= $110,000
For computing the accurate value, we have to deduct the current mortgage amount from the net value of home.
Since only 80% is related to the home value so we take only 80% and rest 20% would be ignored.
<span>Lorenzo would be required to pay all of his premiums regardless since he is self employed. Since he is self employed he should be able to deduct these premiums at the end of the year</span>
Small businesses are actually the major engine of the economy, especially
now that much of our manufacturing jobs have moved overseas, so they
play a crucial role in employment.
