A family purchased a home 10 years ago for $80,000. The home was financed by paying 20%
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A family purchased a home 10 years ago for $80,000. The home was financed by paying 20% down and signing a 30-year mortgage at 9% on the unpaid balance. The net market value of the house is now $120,000, and the family wishes to sell the house. How much equity (to the nearest dollar) does the family have in the house now after making 120 monthly payments?
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Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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