How much equity does have in the house

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Reference no: EM13258673

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

Reference no: EM13258673

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