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show work, please do not use financial calculator as basis for proof 7. [8] A couple buys a piece of land worth $200000 by paying

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show work, please do not use financial calculator as basis for proof

7. [8] A couple buys a piece of land worth $200000 by paying $50000 down and then taking a loan out for $150000. The loan will be repaid with quarterly payments over 15 years at j4 = 8%. Determine the couple's equity at the end of 8 years

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