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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 puchased their hame 10 years ago for \$64, 126 . The home was financed by paying 15% down and sigring a 30 -year mortigage at 9% on the unpaid balince. Equal monthly payments were made to amortize the lan over the 30year period. The net. matket value of the house is now $100,000. Afer making their 120 ih payment they applied to the loan company for the maximum loan. How much (to the nearest dollar) wit thoy receive? Anount of loas 1 (Round to the nearest delar.)

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