your dad wants to purchase a new house and lot in zamboanga city, so he decide to apply for housing loan from landBank using his existing house and lot collateral. the bank conducted an appraisal of his existing house an lot and came up with 2,000,000 appraised value. Your dad will pay the developer 20% down payment. The fair market value of the new house and lot is 1,500,000. What is the loan collateral ratio?

your dad wants to purchase a new house and lot in zamboanga city, so he decide to apply for housing loan from landBank using his existing house and lot collateral. the bank conducted an appraisal of his existing house an lot and came up with 2,000,000 appraised value. Your dad will pay the developer 20% down payment. The fair market value of the new house and lot is 1,500,000. What is the loan collateral ratio?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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