Your home was recently appraised for $179,000. The balance on your existing mortgage is $115,050. 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?
A) $125,300.00
B) $240,335.00
C) $53,700.00
D) $10,250.00
Correct Answer:
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