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House after making monthly payments

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A home was purchased 14 years ago for $70,000. The home was financed by paying a 20% down payment and signing a 25 year mortgage at 8.5% compounded monthly on the unpaid balance. The market value is now $100,000. The owner wishes to sell the house. How much equity (to the nearest dollar) does the owner have in the house after making 168 monthly payments?

Reference no: EM131094043

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