A few years ago, Maria Ramundo purchased a home for $400,000. Today, the home is worth $600,000.

Question:

A few years ago, Maria Ramundo purchased a home for $400,000. Today, the home is worth $600,000. Her remaining mortgage balance is $270,000. Assuming Maria can borrow up to 80 percent of the market value of her home, what is the maximum amount she can borrow?

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