Real Estate Math
A Missouri lender requires an 80% LTV. The appraised value is $260,000. What is the maximum loan?
A$182,000
B$208,000✓ Correct
C$234,000
D$260,000
Explanation
Maximum loan = $260,000 × 80% = $208,000. To solve this, multiply the relevant values: $260,000 at 80%..
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