If You Own a Home with a Market Value of $175,000

question 70

Multiple Choice

If you own a home with a market value of $175,000 and you have an outstanding balance on your mortgage of $60,000,your home equity is

• A)$57,500.
• B)$97,750.
• C)$115,000.
• D)$235,000.

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Definitions:

Rising Mantle

The upward movement of the Earth's mantle, often leading to volcanic activity.

Divergent Boundary

A plate-tectonic boundary in which two plates move apart (diverge) relative to one another.

Convergent Boundary

A tectonic plate boundary where two plates move toward each other, often resulting in mountain building, earthquakes, or volcanic activity.

Transform Boundary

A type of tectonic plate boundary where two plates slide past each other horizontally.