A few years ago michael tucker purchased a home for 134000, Financial Management

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A few years ago michael tucker purchased a home for 134000

A few years ago, Michael Tucker purchased a home for $134000. Today the home is worth $172000. His remaining mortgage balance is $61000. Assuming Michael can borrow up to 68 percent of the market value of his home, what is the maximum amount he can borrow?

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Financial Management: A few years ago michael tucker purchased a home for 134000

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Financial Management: A few years ago michael tucker purchased a home for 134000

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