Finance
The 'loan-to-value' (LTV) ratio on a Massachusetts property purchased for $600,000 with a $480,000 mortgage is:
A75%
B80%✓ Correct
C85%
D90%
Explanation
LTV = Loan Amount ÷ Property Value = $480,000 ÷ $600,000 = 0.80 = 80%.
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