Real Estate Math
A Vermont house appraises for $375,000. The lender allows a maximum LTV of 80%. What is the maximum loan amount?
A$280,000
B$295,000
C$300,000✓ Correct
D$315,000
Explanation
Maximum loan = 80% x $375,000 = 0.80 x $375,000 = $300,000.
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