how much money will need to be loaned from the bank after the 8.5% down payment on a $600,000 asset? down…
how much money will need to be loaned from the bank after the 8.5% down payment on a $600,000 asset? down payment = $51,000 loan value = $?
Answer
Explanation:
Step1: Identify the asset value and down - payment
Asset value = $600000$, Down - payment = $51000$
Step2: Calculate the loan value
Loan value=Asset value - Down - payment $=600000 - 51000$ $=549000$
Answer:
$549000$