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Gurpreet Plans to Purchase a Condo Valued at $385,000

Question 28

Multiple Choice

Gurpreet plans to purchase a condo valued at $385,000. He is considering putting in a $45,000 down payment on the property and obtaining a mortgage for the remainder. Determine the Loan to Value Ratio.


A) 85.31%
B) 86.31%
C) 87.31%
D) 88.31%
E) 89.31%

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