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A few years ago, Michael Tucker purchased a home for $118000. Today the home is worth $166000. His remaining mortgage balance is $65000. Assuming Michael
A few years ago, Michael Tucker purchased a home for $118000. Today the home is worth $166000. His remaining mortgage balance is $65000. Assuming Michael can borrow up to 66 percent of the market value of his home, what is the maximum amount he can borrow?
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