Evelynn has a home that was recently appraised for $127,000, and the balance on the existing mortgage is $88,350. If a bank is willing to loan up to 75% of the appraised value, calculate the potential amount of credit available on a home equity loan.

$6,900

Step-by-step explanation:

To calculate the potential amount of credit available on the home equity loan, first you have to calculate 75% of the appraised value:

$127,000*75%= $95,250

Then, as Evelynn has an existing mortgage, you have to subtract this amount from $95,250:

$95,250-$88,350= $6,900

According to this, the answer is that the potential amount of credit available on a home equity loan is $6,900.

step-by-step explanation:

given that there are two triangles j'k'l' and jkl>

the former is got by dilating the second one.

when drawn on a grid, (graph paper) coordinates of vertices of first triangle is

(6,12)j, (9,6)k and (12,9)l

side jk has length = distance between j and k

=

side j'k'=distance between j' and k'

=

ie j'k'l' has sides 1/3 of that of corresponding sides of jkl.

hence scale factor of 1/3 is used to get j'k'l'from jkl