How much equity does homer have in the house, Accounting Basics

+44 141 628 6080
[email protected]

How much equity does homer have in the house

Homer Simpson bought a house for $70,000 some years ago. Heput 20% down and financed the rest with a 25 year mortgage of 8.5%interest.
Home has made 168 payments on the house.
The house is now worth $210,000

How much equity does Homer have in the house?
Must show work and logic on how to get answer.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much equity does homer have in the house

Reference No:- TGS0722838

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : How much would you have to invest now in one lump

In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect your income to increase by $500 per year.

Q : How much heat is transferred between the two parts

(a) Calculate the common temp. in the adiabatic enclosure when thermal equilibrium is reached. (b) How much heat is transferred between the two parts of the system? Entropy?

Q : Determine theadjusted cash balance per bank at august

At August 31 Jones Company has this bank information: cashbalance per bank $6,950; outstanding checks $762; deposits intransit $1,700; and a bank service charge $20. Determine theadjusted cash balance per bank at August 31, 2005.

Q : Compute the capacitance of the sphere in microfarads

A capacitor is formed from a hollow copper sphere of inner radius 44.5 cm and outer radius 55.6 cm. Calculate the capacitance of the sphere in microfarads. Answer is not 2.48x10^-4 microfarads.

Q : How much equity does homer have in the house

Homer Simpson bought a house for $70,000 some years ago. Heput 20% down and financed the rest with a 25 year mortgage of 8.5%interest. Home has made 168 payments on the house.

Q : How much will the leg compress

How much will the leg compress for The Thing of the same Fantastic Four fame, if you assume that he is made of granite and weighs 400 kg. Assume further that his legs are 150 cm long and 25 cm in diameter. How much additional weight can he carry b

Q : Calculate the capacitance of a planet

Calculate the capacitance of a planet, assuming it is a spherical capacitor of radius R = 9550.0 km with charge distributed throughout the volume of the sphere.

Q : Preparing the tax return of a new client

Your CPA firm is preparing the tax return of a new client who says he has had numerous transactions involving the sale of depreciable business property in prior years.

Q : How high above his initial location in gun does mickey soar

How high above his initial location in the gun does Mickey soar? (In case you are worried, a miniature parachute opens at this point and Mickey lands safely. The brat is slightly less obnoxious than we thought.) Take g = 9.81 m/s2.

1950853

Questions
Asked

3,689

Active Tutors

1430774

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much equity does homer have in the house

Reference No:- TGS0722838

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How much would you have to invest now in one lump

Q : How much heat is transferred between the two parts

Q : Determine theadjusted cash balance per bank at august

Q : Compute the capacitance of the sphere in microfarads

Q : How much equity does homer have in the house

Q : How much will the leg compress

Q : Calculate the capacitance of a planet

Q : Preparing the tax return of a new client

Q : How high above his initial location in gun does mickey soar

How everyones life is deemed valuable to god

Explain the meaning of the sacrificial lamb

Construct a response to a new religious movement

Reflect on the mission of the church as christianity

What are your thoughts on the health message

Providing care that respects others spiritual and religious

Are there any of the objections to the teaching of catholic

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much equity does homer have in the house

Reference No:- TGS0722838

Recent Questions Asked Accounting Basics

Q : How much would you have to invest now in one lump

Q : How much heat is transferred between the two parts

Q : Determine theadjusted cash balance per bank at august

Q : Compute the capacitance of the sphere in microfarads

Q : How much equity does homer have in the house

Q : How much will the leg compress

Q : Calculate the capacitance of a planet

Q : Preparing the tax return of a new client

Q : How high above his initial location in gun does mickey soar

Asked Questions