Finance
A South Carolina home's appraised value is $320,000. The buyer is getting an 80% LTV loan. What is the maximum loan amount?
A$240,000
B$256,000✓ Correct
C$280,000
D$320,000
Explanation
Maximum loan = $320,000 × 80% = $256,000. To solve this, multiply the relevant values: $320,000 at 80%..
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