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A couple wishes to borrow money using the equity in their home for collateral. A loan company will loan them up to 70% of their

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A couple wishes to borrow money using the equity in their home for collateral. A loan company will loan them up to 70% of their equity. They purchased their home 11 years ago for exist78, 470. The home was financed by paying 10% down and signing a 15-year mortgage at 8.1% on the unpaid balance. Equal monthly payments were made to amortize the loan over the 15-year period. The net market value of the house is now exist100,000. After making their 132nd payment, they applied to the loan company for the maximum loan. How much (to the nearest dollar) will they receive? Amount of loan: exist (Round to the nearest dollar.)

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