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Assuming michael can borrow up to 78 percent of the market

A few years ago, Michael Tucker purchased a home for $113000. Today the home is worth $158000. His remaining mortgage balance is $51000.

Assuming Michael can borrow up to 78 percent of the market value of his home, what is the maximum amount he can borrow?

Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.

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Finance Basics: Assuming michael can borrow up to 78 percent of the market

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