4 years ago you bought a home for $350,000, which at the time was 4.5% below the homes fair market value. Since then, the market value of your home appreciated at a compounded rate of 2.3% annually, on average. What is your current equity in the home if you were to sell it at a fair market value today? Assume that when you purchased the home you took a $270,000, 4.5%, interest-only mortgage and always made the minimum required payments.

Subject is REE6045, i dont understand this problem.