Lauren's equity build-up after living there for two years is; 24 × $1,000 = $24,000
By definition:
Equity build-up is the increase in the net ownership value of a property that is achieved by the gradual reduction of the mortgage loan principal that was used for financing its acquisition by the investor.
This gradual reduction of the mortgage loan principal in discuss is achieved by the periodic payments made by the borrower.
In essence, her equity build-up after living there for two years is;
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