Hypo: The original mortgage's remaining balance=$175k. It's refinanced for $225k. Only $25k of the $50k cash taken out is used on improvements. What's spent on the home?

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Hypo: The original mortgage's remaining balance=$175k. It's refinanced for $225k. Only $25k of the $50k cash taken out is used on improvements. What's spent on the home?

25,000

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