Yara Owns a Home That Was Recently Appraised for $189,000

question 94

Multiple Choice

Yara owns a home that was recently appraised for $189,000. The balance on the existing mortgage is $84,450. If Yara's bank is willing to loan up to 75% of the appraised value, find the potential amount of credit available on a home equity loan.

• A) $55,682
• B) $48,395
• C) $56,124
• D) $57,300

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