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Determine the couple equity at the end of eight years

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Question - A couple buys a piece of land worth $200,000 by paying $50,000 deposit and then taking a loan out for $150,000. The loan will be repaid with quarterly payments over 15 years at j4 = 8% p.a. Determine the couple's (buyers) equity at the end of 8 years.

Reference no: EM133044241

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