If a House Is Worth $600,000 and Its Owner Owes

question 216

Multiple Choice

If a house is worth $600,000 and its owner owes $400,000 on the mortgage,how much equity does the owner have?

• A) $0
• B) $200,000
• C) $400,000
• D) $600,000

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

Median

Median is the middle value in a dataset when the values are arranged in ascending or descending order.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of values, frequencies, or probabilities for a set of data where most occurrences take place around the average.

Symmetrical

Having similar shape and size on both sides of a dividing line, leading to a balanced and proportionate appearance.