Finance
In New York, the 'loan-to-value ratio' (LTV) on a $400,000 property with a $320,000 mortgage is:
A75%
B80%✓ Correct
C85%
D90%
Explanation
LTV = Loan Amount ÷ Property Value = $320,000 ÷ $400,000 = 0.80 = 80%.
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