A house was purchased for $300 000 and has a market value of $325000 and a mortgage of $213000.The equity in this house is
A)$87 000.
B)34.5 percent.
C)$112 000.
D)$25 000.

Name: A house was purchased for $300 000 and has a market value of $325000 and a mortgage of $213000.The equity in this house is A)$87 000. B)34.5 percent. C)$112 000. D)$25 000.
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Question

Quizplus · Accepted Answer

Equity = Market value - Mortgage
Equity = $325000 - $213000
Equity = $112000

A House Was Purchased for $300 000 and Has a Market