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--- equity [2025/12/16 10:25] – created reidjs
+++ equity [2025/12/16 10:27] (current) – [Exam Tip] reidjs
@@ Line 22: / Line 22: @@
 ===== Example (like your problem) =====
-Mr. Ferguson purchased a property for $125,000 with 12% cash down. He sold for $139,750 **before making any payments**.
+Mr. Johnson purchased a property for $125,000 with 12% cash down. He sold for $139,750 **before making any payments**.
   * Down payment = $125,000 × 0.12 = $15,000
@@ Line 32: / Line 32: @@
 ===== Exam Tip =====
-  * Interest rate and payment amount often appear in the question, but if it says **no payments were made**, you usually **don’t need amortization**—the balance hasn’t changed.
+  * Interest rate and payment amount often appear in the question, but if it says **no payments were made**, you usually **don’t need [[amortization]]**—the balance hasn’t changed.