The question has several pad: that must he- ccmpleted sequential/y. Ifyuu skip a part of the questmn, yuu Will not receive any points for the skipped part, and you will not be able to name back to the skipped part. Tutor lExer 5e You dwn a home that was recently appraised for $350,0oni The balance on your existing mortgage is $126,650. If your bank is willing to loan up to 70% of the appraised value, what is the potential amount of credit available on a home equity loan? The bank is willing to loan up to 70% of the appraised home value of $360,000. Recall that the word "of" indicates multiplication and percentages must rst be converted to decimal values before carrying out the multiplication. The lenders percentage is 70% Converting this to a decimal gives 70% = S . Substitute this value and the appraised value nfthe heme te nd the percentage of the appraised value, the amount [in s) the bank is willing to lend. percentage orappraised value appraised value x lender's percentage 350,000 x :s