Smith buys a house for $600,000. She gets a mortgage for $450,000 and pays the rest with cash. What is Smith’s Loan to Value (LTV) ratio at the time of purchase? Write the answer as a percent so for example 2.5% should be written as 2.5, not as 0.025.

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation