Question: Narrative 14-1 For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, when necessary. Refer to Narrative 14-1.

Narrative 14-1 For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, when necessary. Refer to Narrative 14-1. Your home was recently appraised for $179,000. The balance on your existing mortgage is $115,050. If your bank is willing to loan up to 70% of the appraised value, what is the potential amount of credit available on a home equity loan? (HINT- the answer is not $125,300.00)

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