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Ahmed purchased a $100,000 villa by .1 taking a loan from a bank with an interest rate of 12% compounded monthly and was agreed to be paid back through monthly .payments over 20 years If the villa is

Ahmed purchased a $100,000 villa by .1 taking a loan from a bank with an interest rate of 12% compounded monthly and was agreed to be paid back through monthly .payments over 20 years If the villa is sold after 8 years for .1 $125,000, how much equity does the individual have? (Equity is the difference between the current market value and the (balanced owed on the loan Of the total amount paid on the loan, .2 what portion was principal and what portion interest?

Apr 19 2021 View more View Less

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