Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing mortgage is $133,081. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them (in $)?
Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing mortgage is $133,081. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them (in $)?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing mortgage is $133,081. If their bank is willing to loan up to 80% of the appraised value, what is the amount of credit available to them (in $)?
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