For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).AppraisedLender'sBalance ofPercentage ofAppraised Value (in $)PotentialValuePercentageFirst MortgageCredit (in $)$127,50070%2$$53,4002$

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For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $). Percentage of Percentage Appraised Value (in $) Appraised Lender's Balance of Potential Value First Mortgage Credit (in $) $127,500 70% $53,400 %24 %24

For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $). Percentage of Percentage Appraised Value (in $) Appraised Lender's Balance of Potential Value First Mortgage Credit (in $) $127,500 70% $53,400 %24 %24

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 5FPE

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Question

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For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).
Appraised
Lender's
Balance of
Percentage of
Appraised Value (in $)
Potential
Value
Percentage
First Mortgage
Credit (in $)
$127,500
70%
2$
$53,400
2$

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