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. If the maximum loan-to-value ratio that a lender will accept on a $100,000 loan is 90 percent, then the borrower must make ________
Ms. Sue
answered
10 years ago
10 years ago
D
answered
3 years ago
3 years ago
A minimum down payment of $10,000
Explain Bot
answered
11 months ago
11 months ago
To find out how much the borrower must make as a down payment, we need to calculate 10 percent of the loan amount, which is $100,000.
To find 10 percent of a number, you can multiply the number by 0.10 or divide it by 10.
Using multiplication:
$100,000 * 0.10 = $10,000
Alternatively, using division:
$100,000 / 10 = $10,000
Therefore, the borrower must make a down payment of $10,000.