If your gross income is OMR 1800 per month, and you need a housing loan. What is the maximum amount of housing loan you can get for repayment in 14 years from a lender following the 28/36 debt-to-income ratio, if interest rate is 6.3%? Select one: O a. 56168 OMR [approximately] O b. 1.4101 OMR [approximately] c. 450 OMR [approximately] O d. None O e. 86100 OMR [approximately]
If your gross income is OMR 1800 per month, and you need a housing loan. What is the maximum amount of housing loan you can get for repayment in 14 years from a lender following the 28/36 debt-to-income ratio, if interest rate is 6.3%? Select one: O a. 56168 OMR [approximately] O b. 1.4101 OMR [approximately] c. 450 OMR [approximately] O d. None O e. 86100 OMR [approximately]
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 4FPE: Calculating single-payment loan amount due at maturity. Stanley Price plans to borrow 8,000 for five...
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![If your gross income is OMR 1800 per
month, and you need a housing loan.
What is the maximum amount of
housing loan you can get for
repayment in 14 years from a lender
following the 28/36 debt-to-income
ratio, if interest rate is 6.3%?
Select one:
O a. 56168 OMR [approximately]
O b. 1.4101 OMR [approximately]
c. 450 OMR [approximately]
O d. None
O e. 86100 OMR [approximately]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2dec3e3-c59b-4d0a-abc4-c70fb3cc56f3%2F1e4a49b6-6a62-4e5e-b102-f1307b008721%2Foz16not_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If your gross income is OMR 1800 per
month, and you need a housing loan.
What is the maximum amount of
housing loan you can get for
repayment in 14 years from a lender
following the 28/36 debt-to-income
ratio, if interest rate is 6.3%?
Select one:
O a. 56168 OMR [approximately]
O b. 1.4101 OMR [approximately]
c. 450 OMR [approximately]
O d. None
O e. 86100 OMR [approximately]
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