If your gross income is OMR 1800 per month, and you need a housing loan. What is the maximum amount of housing loan you can get for repayment in 14 years from a lender following the 28/36 debt-to-income ratio, if interest rate is 6.3%? Select one: O a. 56168 OMR [approximately] O b. 1.4101 OMR [approximately] c. 450 OMR [approximately] O d. None O e. 86100 OMR [approximately]
If your gross income is OMR 1800 per month, and you need a housing loan. What is the maximum amount of housing loan you can get for repayment in 14 years from a lender following the 28/36 debt-to-income ratio, if interest rate is 6.3%? Select one: O a. 56168 OMR [approximately] O b. 1.4101 OMR [approximately] c. 450 OMR [approximately] O d. None O e. 86100 OMR [approximately]
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
Related questions
Question
R1
![If your gross income is OMR 1800 per
month, and you need a housing loan.
What is the maximum amount of
housing loan you can get for
repayment in 14 years from a lender
following the 28/36 debt-to-income
ratio, if interest rate is 6.3%?
Select one:
O a. 56168 OMR [approximately]
O b. 1.4101 OMR [approximately]
c. 450 OMR [approximately]
O d. None
O e. 86100 OMR [approximately]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2dec3e3-c59b-4d0a-abc4-c70fb3cc56f3%2F1e4a49b6-6a62-4e5e-b102-f1307b008721%2Foz16not_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If your gross income is OMR 1800 per
month, and you need a housing loan.
What is the maximum amount of
housing loan you can get for
repayment in 14 years from a lender
following the 28/36 debt-to-income
ratio, if interest rate is 6.3%?
Select one:
O a. 56168 OMR [approximately]
O b. 1.4101 OMR [approximately]
c. 450 OMR [approximately]
O d. None
O e. 86100 OMR [approximately]
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education