Question
Kathy bought a house for $285,000. She made a $60,000 down payment at closing. After 5 years, her balance on the loan is $150,000.
Kathy bought a house for $285,000. She made a $60,000 down payment at closing. After 5 years, her balance on the loan is $150,000. Assuming no appreciation on the property, how much equity does Kathy have?
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