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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 60
Calculate the housing expense ratio and the total obligations ratio for the following mortgage applications.
Ransford and Alda Mariano own a home recently appraised for $418,500. The balance on their existing mortgage is $123,872. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them?
Ransford and Alda Mariano own a home recently appraised for $418,500. The balance on their existing mortgage is $123,872. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them?
Explanation
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Consider appraise value is
, lender p...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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