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How much equity do they have in the house

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Question - Ahmed purchased a house for $310000 by making a 15% down payment and borrowing the rest. They will make monthly payments for 20 years at 4.7% compounded monthly. After 11 years, they still owe $174507. How much equity do they have in the house if the house is now worth $400000.

Reference no: EM133088340

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