The amount of credit available on a home equity line of credit, if the appraised value is $161,400 and lender’s percentage is 70% and the balance of first mortgage is $115,200.

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Chapter 14, Problem 19AT

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To calculate: The amount of credit available on a home equity line of credit, if the appraised value is $161,400 and lender’s percentage is 70% and the balance of first mortgage is $115,200.

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