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Assuming michael can borrow up to 80 percent of the market

Question - A few years ago, Michael Tucker purchased a home for $168,000. Today, the home is worth $245,000. His remaining mortgage balance is $68,000. Assuming Michael can borrow up to 80 percent of the market value of his home, what is the maximum amount he can borrow?

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Accounting Basics: Assuming michael can borrow up to 80 percent of the market

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