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Dennis has an opportunity to buy a Duplex for $ 325,000. His plan is to finance it with a Loan to Value ratio of 80%

Dennis has an opportunity to buy a Duplex for $ 325,000. His plan is to finance it with a Loan to Value ratio of 80% mortgage over 30 years at a fixed rate of 7% with monthly payments. If he buys this Duplex and its price remains unchanged at $ 325,000 for one year, how much Equity Dennis willl have in the Duplex at the end of 1st year?

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