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3. (10 points) A family purchased a home 21 years ago for $95,000. The was financed by paying 20% down and signing a 30-year mortgage

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3. (10 points) A family purchased a home 21 years ago for $95,000. The was financed by paying 20% down and signing a 30-year mortgage at 6.3% on the unpaid balance. The net market value of the house is now $199,000, and the family wishes to sell the house. How much equity (to the nearest dollar) does the family have in the house after making 252 payments (12 monthly payments a year for 21 years)

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