Robby has a house that appraises for $125,000. robby qualifies for an 85% ltv. he owes $63,000 on his first mortgage and $5,000 on his second mortgage. he would like to refinance his house into one mortgage loan and receive additional cash to pay off other debt. how much cash would be available if his closing costs are $4,200 and are financed in the loan?

$34,050

Step-by-step explanation:

Data provided in the question:

Cost of house = $125,000

Maximum Loan = 85% of LTV

First mortgage = $63,000

Second mortgage = $5,000

Closing cost = $4,200

Now,

The maximum loan amount Robby qualifies

= 85% of  $125,000

= 0.85 × $125,000

= $106,250

Thus,

Cash available

= Maximum loan amount - First mortgage - Second mortgage - Closing cost

= $106,250 - $63,000 - $5,000 - $4,200

= $34,050

a is the correct

geometry: triangles

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lessons

answers archive

call the larger triangle abc

then the smaller triangle cde is similar to abc (all angles are equal, aaa).  

ab is the side that is 36, and we wish to find de, the side corresponding to ab

area_cde = area_abc - area_cde --> area_abc / area_cde = 2

let x=length of de

ratio of areas = (ratio of sides)^2

+2+=+%2836%2fx%29%5e2+

+2+=+1296%2fx%5e2+

++x%5e2+=+1296%2f2+=+648+

25.45584