The Equity in Your Home Refers to the Market Value

question 165

Multiple Choice

The equity in your home refers to the market value of your:

• A) home.
• B) home minus the price you paid.
• C) home minus the amount you still owe on your mortgage.
• D) home plus the cost of any improvements made.

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Definitions:

Korean War

A struggle that occurred from 1950 to 1953, involving North Korea, backed by China and the Soviet Union, versus South Korea, which had the support of the United Nations, mainly the United States.

American Revolution

The political and military conflict between the thirteen American colonies and Great Britain from 1775 to 1783, resulting in the independence of the colonies and the formation of the United States.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis. It was the deadliest conflict in human history.