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 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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