For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $). Appraised Value Lender's Percentage Percentage of Appraised Value (in $) Balance of First Mortgage Potential Credit (in $) $1,359,000 60% $ $514,190 $
For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $). Appraised Value Lender's Percentage Percentage of Appraised Value (in $) Balance of First Mortgage Potential Credit (in $) $1,359,000 60% $ $514,190 $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).
| Appraised Value |
Lender's Percentage |
Percentage of Appraised Value (in $) |
Balance of First Mortgage |
Potential Credit (in $) |
|---|---|---|---|---|
| $1,359,000 | 60% | $ | $514,190 | $ |
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