Justin and Angela Have a Home Valued at $96,000 with an Outstanding

question 67

Multiple Choice

Justin and Angela have a home valued at $96,000 with an outstanding mortgage of $60,000. If their lender is willing to provide a home equity loan of up to 75% of the market value of the home, how much can they borrow using a home equity loan?

• A) $0
• B) $12,000
• C) $27,000
• D) $28,000
• E) $36,000

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Definitions:

Verbal Clues

Indicators or hints found within spoken language that can help in understanding the speaker’s intentions, emotions, or truthfulness.

Nonverbal Clues

Communication signals or cues not spoken or written, including gestures, facial expressions, and body language.

Business Meal

A meal shared among business partners or colleagues where the primary purpose is to discuss professional matters.

Mobile Phone

A handheld electronic device that enables users to make telephone calls, send text messages, and access the internet.