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A couple wishes to borrow money using the equity in their home for collateral. A loan...

A couple wishes to borrow money using the equity in their home for collateral. A loan company will loan them up to 70% of their equity. They purchased their home 9 years ago for $70,391. The home was financed by paying 10% down and signing a 30 year mortgage at 8.1% on the unpaid balance. Equal monthly payments were made to amortize the loan over the 30 year period. The net marker value of the house is now $100,000. After making their 108th payment, they applied to the loan company for the maximum loan. How much to the nearest dollar will they receive?
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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

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