Brian has grown tired of paying rent each month to his landlord and has decided to purchase a condo. Brian has been saving money and has $51025.00 that he will use as a down payment on this condo. He will take out a mortgage to pay the remaining price. Brian finds a suitable condo and negotiates a price of $350463.00.
Upon moving in, how much equity does brian have in this condo?
A. 51025
B. 350463
C.299438
D. 0
What is Brian's leverage ratio associated with this condo when he moves in?
A. 299438
B. 5.868457
C. 0.1704026
D. 0.1455931