Question: What effect will purchasing a house have on net worth if it is purchased with a $20,000 down payment and a $400,000 mortgage? a.Increase net

What effect will purchasing a house have on net worth if it is purchased with a $20,000 down payment and a $400,000 mortgage?

a.Increase net worth by $420,000

b.Decrease net worth by $20,000

c. No change to net worth

d.Decrease net worth by $420,000

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