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

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Question Help 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 10 years ago for $71,374. The home was financed by paying 20% down and signing a 30-year mortgage at 8.7% on the unpaid balance. Equal monthly payments were made to amortize the loan over the 30-year period. The net market value of the house is now $100,000. After making their 120th 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.)

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