Kathy bought a house for $285,000. She made a $60,000 down payment at closing. After 5...
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Kathy bought a house for $285,000. She made a $60,000 down payment at closing. After 5 years, her balance on the loan is $150,000. Assuming no appreciation on the property, how much equity does Kathy have? Kathy bought a house for $285,000. She made a $60,000 down payment at closing. After 5 years, her balance on the loan is $150,000. Assuming no appreciation on the property, how much equity does Kathy have?
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Answer rating: 100% (QA)
Kathy has 135000 in equity This can be calculated by subt... View the full answer
Related Book For
Quantitative Methods for Business
ISBN: 978-0840062345
12th edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
Posted Date:
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