Real Estate Math
A Utah home worth $500,000 has a mortgage balance of $320,000. The owner's equity percentage is:
A36%✓ Correct
B64%
C32%
D40%
Explanation
Equity = $500,000 − $320,000 = $180,000. Equity percentage = $180,000 ÷ $500,000 = 0.
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