Say that you purchase a house for $218,000 by getting a mortgage for $195,000 and paying a $23,000 down payment. If you get a 25-year mortgage with an interest rate of 7 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment $ 1,378.22 What would the loan balance be in ten years? (Round the payment amount to the nearest cent but do not round any other interim calculations. Round your final answer to 2 decimal places.) Loan balance $ 153,335.12 If the house appreciates at 3 percent per year, what will be the value of the house in ten years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value $ 292,973.77 How much of this value is your equity? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Equity