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

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    • #372621
      Anonymous
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      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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