Real Estate Math
A Maine property is appraised at $380,000 with a LTV limit of 75% for a commercial loan. The maximum loan amount is:
A$270,000
B$285,000✓ Correct
C$300,000
D$315,000
Explanation
Maximum loan = $380,000 × 75% = $285,000. To solve this, multiply the relevant values: $380,000 at 75%..
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