10 You purchased a property 4 years ago for $835,000. The purchase was financed using a 85.00% Loan to Value ratio, constant payment loan at 7.49% annual interest rate. The loan is fully amortising with monthly payments and a term of 28 years. During this time, the house appreciated at the following rates (assume annual compounding): Year 1 - 12.00%; Year 2 - 15.00%; Year 3- 18.00%; Year 4 - 5.00%. Calculate the average home equity appreciation rate over this period (assume annual compounding). Enter your answer rounded to nearest whole number without the percentage sign (e.g. 45.67% is entered as 46). Maximum marks: 3