Question: Matt is a real estate developer and owns a strip mall in Canton, Ml. The property recently appraised and the appraisal value was $13,500,000 If

Matt is a real estate developer and owns a strip mall

Matt is a real estate developer and owns a strip mall in Canton, Ml. The property recently appraised and the appraisal value was $13,500,000 If you are lending to Matt and bank policy states that you can lend up to 70% Loan to Value, what is the maximum loan amount that you would be able to provide Matt? a. $9,500,000 b. $9,450,000 O c. $10,000,000 O d. $10,125,000 If policy states that you can go up to a 75% Loan to Value how much can you lend Matt? a. $9,500,000 b. $9,450,000 OC. $10,000,000 d. $10,125,000

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