Finance
A Tennessee homeowner has a $250,000 home and a $175,000 mortgage. What is the owner's equity?
A$75,000✓ Correct
B$175,000
C$250,000
D$425,000
Explanation
Equity = Market value − Mortgage balance = $250,000 − $175,000 = $75,000. Using the values given ($250,000, $175,000), apply the appropriate formula..
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