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 $61,236. The home was financed by paying 15% down and signing a 15-year mortgage at 9% on the unpaid balance. Equal monthly payments were made to amortize the loan over the 15-year period. The net marker value of the house is now $100,000. After making their 132nd payment, they applied to the loan company for the maximum loan. How much (to the nearest dollar) will they receive?

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 11 years ago for $61,236. The home was financed by paying 15% down and signing a 15-year mortgage at 9% 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 $100,000. 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: S (Round to the nearest dollar.) Enter your answer in the answer box Save for Liter DUE AT 11:59PM Score: 2056 Qulz 20 8.3.45 Irving Extensio.pdf Savannalo2B pdf 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 11 years ago for $61,236. The home was financed by paying 15% down and signing a 15-year mortgage at 9% 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 $100,000. 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: S (Round to the nearest dollar.) Enter your answer in the answer box Save for Liter DUE AT 11:59PM Score: 2056 Qulz 20 8.3.45 Irving Extensio.pdf Savannalo2B pdf