Finance
What is the loan-to-value (LTV) ratio on a property appraised at $280,000 with a $224,000 loan?
A70%
B75%
C80%✓ Correct
D85%
Explanation
LTV = Loan Amount ÷ Appraised Value = $224,000 ÷ $280,000 = 0.80 = 80%.
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