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 puchased their home 11years ago for $72,700. The home was financed by paying 20% down and signing a 15-year mortgage at 8.1% on the unpaid balance. Equal monthly payments were made to amortize the loan over the15-year period. The net market value of the house is now $100,000. After making their 132ndnd

payment, they applied to the loan company for the maximum loan. How much (to the nearest dollar) will they receive?

Amount of loan: $_______

(Round to the nearest dollar.)