Real Estate Math
A Hawaii property is worth $900,000. The owner has a $540,000 mortgage. What is their equity percentage?
AA. 40%✓ Correct
BB. 50%
CC. 60%
DD. 70%
Explanation
Equity = $900,000 - $540,000 = $360,000. Equity % = $360,000 / $900,000 = 40%.
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