Finance
A Wyoming property's loan-to-value (LTV) ratio is 75%. The property is appraised at $360,000. What is the loan amount?
A$240,000
B$260,000
C$270,000✓ Correct
D$280,000
Explanation
Loan amount = $360,000 × 75% = $270,000. To solve this, multiply the relevant values: $360,000 at 75%..
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