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you buy 1 M dollar house and put 2 0 % down payment. fill out the balance sheet ASSETS LIABILITIES EQUITY. after housing prices have

you buy

1

M dollar house and put

20 %

down payment. fill out the balance sheet ASSETS LIABILITIES EQUITY.

after housing prices have gone up

10 %

redo your balance sheet assume that the one year you have paid your principle dowen by $

2, 000

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