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Say that you purchase a house for $ 2 3 4 , 0 0 0 by getting a mortgage for $ 2 0 5 ,
Say that you purchase a house for $ by getting a mortgage for $ and paying a down payment of $ If you get a year mortgage with an interest rate of percent, what are the monthly payments?
What would the loan balance be in five years?
If the house appreciates at percent per year, what will be the value of the house in five years?
How much of this value is your equity?
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