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Mathematics, 03.03.2021 04:00, hanz73
4 years ago you bought a home for $350,000, which at the time was 4.5% below the home's fair market value. Since then , the market value of your home appreciated at a compounded rate of 2.3% annually, on average. What is your current equity in the home if you were to sell it at a fair market value today? Assume that when you purchased the home you took a $270,000, 4.5%, interest-only mortgage and always made the minimum required payments.
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4 years ago you bought a home for $350,000, which at the time was 4.5% below the home's fair market...
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