Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).
| Appraised Value |
Lender's Percentage |
Percentage of Appraised Value (in $) |
Balance of First Mortgage |
Potential Credit (in $) |
|---|---|---|---|---|
| $123,500 | 70% | $ | $53,200 | $ |
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