Ask Question
8 August, 15:46

The policy of the broadway pawnshop is to lend up to 35% of the value of the borrowers collateral. John wants to use a $3000 ring in the $1200 necklace as collateral for a loan. what is the maximum amount that he could borrow from Broadway?

+2
Answers (1)
  1. 8 August, 16:10
    0
    Given that can borrow up t 35% of his collateral at the pawnshop and John wants to use $3000 ring as a collateral for $1200 necklace, then the amount that he could borrow will be:

    35/100*3000

    =$1050
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The policy of the broadway pawnshop is to lend up to 35% of the value of the borrowers collateral. John wants to use a $3000 ring in the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers