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Say that you purchase a house for $ 2 3 0 , 0 0 0 by getting a mortgage for $ 2 0 5 ,

Say that you purchase a house for $230,000 by getting a mortgage for $205,000 and paying a $25,000 down payment. If you get a 25-year mortgage with an interest rate of 8 percent, what are the monthly payments?
What would the loan balance be in ten years?
If the house appreciates at 4 percent per year, what will be the value of the house in ten years?
How much of this value is your equity?
Note: Do not round intermediate calculations and round your final answer to 2 decimal places.

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