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To buy a $150,000 house, you take out a 9% (APR) mortgage for $120,000. Five years later, you sell the

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To buy a $150,000 house, you take out a 9% (APR) mortgage for $120,000. Five years later, you sell the house for $185,000 (after all other selling expenses). What equity (the amount that you can keep before tax) would you realize with a 30-year repayment term?

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Given Data purchase price 150 000 down payment sunk equity 30 000 interest rate 0 75 …View the full answer


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Contemporary Engineering Economics

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

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Question Posted: April 21, 2016 06:38:49
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