Math You bought your home last year for $130,000. You made a down payment of 20 percent. Through your mortgage payments, you have reduced your debt by $2,000. The annual appreciation rate for homes in your area has averaged 3 percent. Determine

(a) the amount of your down payment,

(b) the initial loan amount,

(c) the amount you owe now,

(d) the current market value of your home, and

(e) the amount of equity you have in the home.