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:

Proof 1

A logical or mathematical demonstration showing that a specific statement or theorem is true, based on accepted axioms and inference rules.

Proof 2

An alternative term generally meaning evidence or argument establishing a fact or the truth of a statement.

Demonstrations

organized activities by a group of people to show their protest, or support for, or against a cause.

Validity

The property of an argument in which the truth of the premises logically guarantees the truth of the conclusion.