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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 73
The Randolphs own a home that recently appraised for $161,400. The balance on their existing first mortgage is $115,200. If their bank is willing to loan up to 70% of the appraised value, what is the amount of credit available to the Randolphs on a home equity line of credit?
Explanation
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Consider appraise value is
, lender pe...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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