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A few years ago, Simon Powell purchased a home for $180,000. Today, the home is worth $310,000. His remaining mortgage balance is $130,000. Assuming that

A few years ago, Simon Powell purchased a home for $180,000. Today, the home is worth $310,000. His remaining mortgage balance is $130,000. Assuming that Simon can borrow up to 75 percent of the market value, what is the maximum amount he can borrow

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