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nirvana33 [79]
3 years ago
13

A lender offers an investor a maximum 85% LTV loan on the appraised value of a property. If the investor pays $160,000 for the p

roperty how much will the investor have to pay as a down payment
Business
1 answer:
svetlana [45]3 years ago
6 0

Answer:

the amount that have to pay as a down payment is $24,000

Explanation:

The computation of the down payment is as follows;

Loan = LTV ratio × price

And, the down payment is

= Price - loan

So, the loan is

= 85% × $160,000

= $136,000

Now the down payment is

= $160,000 - $136,000

= $24,000

Hence, the amount that have to pay as a down payment is $24,000

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yes                                                                                                                                                                                                                  

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3 0
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6 0
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