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What would the loan balance be in ten years

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Question - Say that you purchase a house for $266,000 by getting a mortgage for $235,000 and paying a $31,000 down payment. If you get a 25-year mortgage with a 8 percent interest rate, what are the monthly payments?

What would the loan balance be in ten years?

If the house appreciates at 4 percent per year, what will be the value of the house in ten years?

How much of this value is your equity?

Reference no: EM131697406

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