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Ahomeownerpaid$40,000fortheirhome.Afterrefinancing,theownerowes$180,000.Ifthebankwillprovidehomeequityloansupto80%ofthevalueofthehomeandthemaximumthehomeownercanborrowis$50,000,whatisthevalueofthehome? $250,000 $287,500 $270,000 $1,150,000
- Ahomeownerpaid$40,000fortheirhome.Afterrefinancing,theownerowes$180,000.Ifthebankwillprovidehomeequityloansupto80%ofthevalueofthehomeandthemaximumthehomeownercanborrowis$50,000,whatisthevalueofthehome?
- $250,000
- $287,500
- $270,000
- $1,150,000
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Principles Of Finance
Authors: Besley, Scott Besley, Eugene F Brigham, Brigham
4th Edition
0324655886, 9780324655889
