Answer:
$231,000
Explanation:
The maximum loan amount that the borrower would get from a bank is the 70% of the contract price which is computed thus:
The understanding here is that the bank would provide 70% counterparty funds which is equivalent to 70% of $330,000 i.e $231,000(70%*$330,000).
In other words,the borrower should be willing to provide 30% of $330,000 while the bank complements the borrower's efforts withe balance of 70%
