Jessica purchased a home on January 1, 2022, for $660,000 by making a down payment of $260,000 and financing the remaining $400,000 with a loan, secured by the residence, at 6 percent. During 2022 and 2023, Jessica made interest-only payments on this loan of $24,000 (each year). On July 1, 2022, when her home was worth $660,000, Jessica borrowed an
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