Question: Hello can you help with the below? 2. Calculating the Amount for a Home Equity-Loan: A few years ago, Maria Ramundo purchased a home for

Hello can you help with the below?

2. Calculating the Amount for a Home Equity-Loan: A few years ago, Maria Ramundo purchased a home for $400,000. Today, the home is worth $600,000. Her remaining mortgage balance is $270,000. Assuming that Maria can borrow up to 80 percent of the market value of her home, what is the maximum amount she can borrow?

Thanks,

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

A few years ago, Maria Ramundo purchased a home for $162,000. Today, the home is worth $210,000. Her remaining mortgage balance is $76,000 Assuming Maria can borrow up to 80 percent of the market...

A few years ago, Maria Ramundo purchased a home for $197.000. Today, the home is worth $260,000. Her remaining mortgage balance is $83,000. Assuming Maria can borrow up to 80 percent of the market...

A few years ago, Maria Ramundo purchased a home for $164,000. Today, the home is worth $215,000. Her remaining mortgage balance is $32,000. Assuming Maria can borrow up to 80 percent of the market...

Saved A few years ago, Maria Ramundo purchased a home for $136.000. Today, the home is worth $175,000. Her remaining mortgage balance is $23,000. Assuming Maria can borrow up to 80 percent of the...

A few years ago, Maria Ramundo purchased a home for $197.000. Today, the home is worth $260,000. Her remaining mortgage balance is $83.000. Assuming Maria can borrow up to 80 percent of the market...

A few years ago, Maria Ramundo purchased a home for $135,000. Today, the home is worth $210.000. Her remaining mortgage balance is $38,000. Assuming Maria can borrow up to 30 percent of the market...

A few years ago, Maria Ramundo purchased a home for $182,000. Today, the home is worth $230,000. Her remaining mortgage balance is $17,000. Assuming Maria can borrow up to 80 percent of the market...

A few years ago, Maria Ramundo purchased a home for $400,000. Today, the home is worth $600,000. Her remaining mortgage balance is $270,000. Assuming Maria can borrow up to 80 percent of the market...

A few years ago, Maria Ramundo purchased a home for $194,000. Today, the home is worth $250,000. Her remaining mortgage balance is $62,000. Assuming Moria can borrow up to 80 percent of the market...

personal financial Louise Gendron's monthly gross income is $4,900. Her employer withholds $735 in federal and provincial income taxes, $212.68 towards the Canada Pension Plan, and $70.67 for El...

Presented below are three different lease transactions in which Ortiz Enterprises engaged in 2011.Assume that all lease transactions start on January 1, 2011. In no case does Ortiz receive title to...

Your tax filing status is Married, Filing Jointly. Your Gross Annual Income is $60,000, and you are paid bi-weekly. You claim five dependents, and contribute 5% of each paycheck to your retirement...

Question 6 of 2 5 - 1 4 View Policies Current Attempt in Progress A project financing arrangement refers to an arrangement where a company borrows from its subsidiary to finance a project. an...

The marginal cost function of producing a toy is given by C'(q)= 1000-20q (where q is the quantity) a. If the fixed costs are $3000 what is the total cost to produce 10 items? 5 items? b. If the...

Review the determinants of direct financial compensation.

Define discretionary benefits and explain the various types of discretionary benefits.

Identify and discuss the components of direct financial compensation.