For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).Percentage ofPercentage Appraised Value (in $) First MortgagePotentialAppraisedValueLender'sBalance ofCredit (in $)$127,50070%$$53,200$%24%24

Given : Appraised value = $127,500 Lender's Percentage = 70% Balance of first mortgage = $53,200

For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $) Appraised Value Percentage of Percentage Appraised Value (in $) Lender's Balance of Potential First Mortgage Credit (in $)

For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $) Appraised Value Percentage of Percentage Appraised Value (in $) Lender's Balance of Potential First Mortgage Credit (in $)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 5FPE

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For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).
Percentage of
Percentage Appraised Value (in $) First Mortgage
Potential
Appraised
Value
Lender's
Balance of
Credit (in $)
$127,500
70%
$
$53,200
$
%24
%24

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