Ask Question
10 August, 02:39

Q 6.18: Maria owns a house with a fair market value of $275,000. When Maria purchased the house she paid $210,000 but that was several years ago. She currently owes $195,000. How much equity has Maria built since she first purchased the house?

+1
Answers (1)
  1. 10 August, 04:21
    0
    Maria has built $80,000 of equity since she first purchased the house.

    Explanation:

    Maria currently owes: $195,000

    Fair market value of home: $275,000

    Maria's Home equity = Current home worth - What Maria currently owes

     Maria's Home equity = $275,000 - $195,000

     Maria's Home equity = $80,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Q 6.18: Maria owns a house with a fair market value of $275,000. When Maria purchased the house she paid $210,000 but that was several ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers