Question
Jack purchased a house for $650,000 in Ajax two years ago, and today it has a market value of $700,000 and a mortgage of $530,000.
Jack purchased a house for $650,000 in Ajax two years ago, and today it has a market value of $700,000 and a mortgage of $530,000. What is the equity in the house? (Show your calculations)
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
