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Find the equity in house in given problem

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Reference no: EM131755897

Question: Deb buys a house for $175,000. She makes a $30,000 down payment and mortgages the rest at 3.8% for 30 years. After ten years, Deb has now had a child and is looking for a larger house. If the value of her house has grown by $5,000 each year, find the equity she has in her house. Please show your work, so I may learn how to do this problem.

Reference no: EM131755897

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