Asked by Miranda
Question 1: Robby wants a secured loan to start his own business. Robby will use his house as collateral. The bank will loan Robby 56.4% of his house's equity. Robby's house is worth $367 685. He owes $108 653 on it. What is the equity in Robby's house?
Question 2: Robby wants a secured loan to start his own business. Robby will use his house as collateral. The bank will loan Robby 56.4% of his house's equity. Robby's house is worth $367 685. He owes $108 653 on it. What is 56.4% of the equity in Robby's house?
I'm stuck and I need help please and thank you.
Question 2: Robby wants a secured loan to start his own business. Robby will use his house as collateral. The bank will loan Robby 56.4% of his house's equity. Robby's house is worth $367 685. He owes $108 653 on it. What is 56.4% of the equity in Robby's house?
I'm stuck and I need help please and thank you.
Answers
Answered by
Henry
1. Equity = 367,685-108,653.
2. 0.564 * Equity =
2. 0.564 * Equity =
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