Ans: D. allows you to borrow up to 80% of the market value of your home
All of the following are true of a home equity loan except it __________ .
A. provides you a line of credit
B. is a good way to combine different kinds of debt
C. may be tax deductible
D. allows you to borrow up to 80% of the market value of your home
Business
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Indicate whether the statement is true or false
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Which of the following is an example of a contingent liability?
a. A liability for notes payable with interest included in the face amount. b. The liability for future warranty repairs on computers sold during the current period. c. A lawsuit pending against a restaurant chain for improper preparation of food. d. A corporate long-term employment contract with the chief executive officer.
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