You put 25% down on a $200000 home and finance the balance through a 30-year mortgage at 7.3% compou

Tips and Deals Forums Buying Your Home Buying Your Home You put 25% down on a $200000 home and finance the balance through a 30-year mortgage at 7.3% compou

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 10 months ago.

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    Anonymous

    You agreed to a monthly payment of $ 1028.55.

    1)You decided to sell the home after 5 years 3 months. How much would you still owe on the loan? (nearest penny)

    2)Regardless of your result in part (1), assume that you owe $ 142014.55 on your home. If the house is worth $ 203679 in 5 years 3 months, how much equity do you have?

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