Your Car Has a Market Value of $4,000, While the Balance

question 32

Multiple Choice

Your car has a market value of $4,000, while the balance of the loan against it is now $2,500. Your ownership interest in the car is:

• A) $2,500.
• B) $4,000.
• C) $6,500.
• D) $1,500.
• E) $5,500.

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Definitions:

Acceptance Of Terms

The agreement to abide by the conditions of an offer or contract.

Business Assets

Resources owned by a business that have economic value and can contribute to the company's future income, including both tangible and intangible items.

Payable In Installments

An agreement or obligation that allows payment to be made in parts or increments over a specified period, instead of a lump sum.

Corporate Stocks

Shares representing ownership in a corporation, providing shareholders with a claim on part of the company's assets and profits.