Question
When Jonathan purchased his first home, he made a down payment of 20% on purchase price of $500,000. Since then, the value of the property
When Jonathan purchased his first home, he made a down payment of 20% on purchase price of $500,000. Since then, the value of the property has risen 30% and his mortgage balance decreased by $11,000. How much equity does Jonathan has in his home?
| a. | $111,000 | |
| b. | $150,000 | |
| c. | $261,000 | |
| d. | $100,000 |
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Finance For Non-Finance People
Authors: Sandeep Goel
2nd Edition
0367185083, 9780367185084
