Finance
The loan-to-value (LTV) ratio on a Kentucky property selling for $200,000 with a $160,000 mortgage is:
A70%
B75%
C80%✓ Correct
D85%
Explanation
LTV = Loan Amount ÷ Property Value = $160,000 ÷ $200,000 = 80%. Using the values given ($200,000, $160,000), apply the appropriate formula..
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