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A few years ago, Simon Powell purchased a home for $160,000. Today, the home is worth $270,000. His remaining mortgage balance is $110,000. Assuming that

A few years ago, Simon Powell purchased a home for $160,000. Today, the home is worth $270,000. His remaining mortgage balance is $110,000. Assuming that Simon can borrow up to 75 percent of the market value, what is the maximum amount he can currently borrow against his home

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