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Lets assume that you want to buy a house that is appraised at $372,000 for $373,000. If the bank requires a maximum Loan-to-Value Ratio of
Lets assume that you want to buy a house that is appraised at $372,000 for $373,000. If the bank requires a maximum Loan-to-Value Ratio of 0.75, how much equity do you need to purchase this house?
A. 98,000
B. 95,000
C. 94,000
D. 93,250
E. There is not enough information to answer this question.
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