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Homer simpson bought a house for 70000 some years ago heput

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Homer Simpson bought a house for $70,000 some years ago. Heput 20% down and financed the rest with a 25 year mortgage of 8.5%interest.
Home has made 168 payments on the house.
The house is now worth $210,000

  1. How much equity does Homer have in the house?
  2. Must show work and logic on how to get answer.

 

Reference no: EM13615328

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