Answer:
start with your current mortgage balance. For a new mortgage, subtract your down payment from the home price. Calculate the LTV. Divide the loan amount by the property value.
Step-by-step explanation:
Answer:
Step-by-step explanation:
c
7 1/4 + 5 3/5
First, you need a common denominator to add the two. 20 will work.
4x5=20, so we have to also multiply 1 by 5.
4x5=20, 1x5=5
5x4=20, so we have to also multiply 3 by 4.
5x4=20, 3x4=12
And now we put the fractions back in.
7 5/20 + 5 12/20
And add them.
7 5/20 + 5 12/20 = 12 17/20
Now, we're supposed to reduce it to its lowest form.
Unfortunately, the fraction cannot be reduced, because 17 is a prime number, meaning there are no factors to it except one and itself.
Therefore, the lowest form of 12 17/20 is 12 17/20
Your answer is B, 12 17/20
