Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 40

The Barclays own a home that was recently appraised for $219,000. The balance on their existing first mortgage is $143,250. If their bank is willing to loan up to 65% of the appraised value, what is the potential amount of credit available to the Barclays on a home equity loan