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How much equity would Phil have in his home based on the following information: Purchased price of $425,000 Fair market value of $432,000 20% down

How much equity would Phil have in his home based on the following information: Purchased price of $425,000 Fair market value of $432,000 20% down payment Has made $15,000 in principal payments

A. $85,000

B. $100,000

C. $107,000

D. $15,000

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