A couple made a downpayment of 20% of the purchase price and secured a 30 year mortgage at 9% per year on the unpaid balance. The house is now worth $280,000. How much equity did they have in their house now after making 120 monthly payments?
2006-10-20 23:12:23 · 4 answers · asked by Nina Karina 1 in Science & Mathematics ➔ Mathematics
Sorry here's more of the problem: the house was purchased 10 years ago for $200,000.
2006-10-20 23:39:06 · update #1
Just plug in all the numbers in excel or use a financial calculator.
The answer is $136,912.00 (the equity)
2006-10-21 00:29:51 · answer #1 · answered by c00kies 5 · 0⤊ 0⤋
It looks quite hard but is actually very simple. take d question step by step. i aint gonna help u with ur homework.
2006-10-21 06:54:26 · answer #2 · answered by funmzire 5 · 0⤊ 0⤋
Where did you get the question from?
2006-10-21 06:34:43 · answer #3 · answered by Rajesh Kochhar 6 · 0⤊ 0⤋
very hard to calculate
2006-10-21 06:16:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋