Ann would like to buy a house. It costs $1,000,000. She will make an $80,000 down payment.
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Question:
1. Prepare a mortgage loan amortization schedule for Ann using the Excel spreadsheet.
2. Assume Ann will make the required monthly payment every month for 30 years. How much home equity will Ann have after 15 years (180 months) of payments under each of the three HPA scenarios?
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