A few years ago, Simon Powell purchased a home for $240,000. Today, the home is worth $430,000. His remaining mortgage b

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answerhappygod
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A few years ago, Simon Powell purchased a home for $240,000. Today, the home is worth $430,000. His remaining mortgage b

Post by answerhappygod »

A few years ago, Simon Powell purchased a home for $240,000.
Today, the home is worth $430,000. His remaining mortgage balance
is $190,000. Assuming that Simon can borrow up to 60 percent of the
market value, what is the maximum amount he can currently borrow
against his home?
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