Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 35

Ronald and Samantha Brady recently had their condominium in Port Isaac appraised for $324,600. The balance on their existing first mortgage is $145,920. If their bank is willing to loan up to 75% of the appraised value, what is the amount of credit available to the Bradys on a home equity line of credit