College

Which of these best expresses the concept of equity?

A. Replacement cost minus depreciation
B. Current market value minus capital gain
C. Current market value minus cost of land
D. Current market value minus property debt

Answer :

Final answer:

Equity in housing is determined by subtracting the amount owed to the bank from the market value of the property.


Explanation:

Equity in the context of a house is calculated as the market value of the house minus what is still owed to the bank. For example, if the value of a house is [tex]$200,000 and $[/tex]180,000 is still owed to the bank, the equity would be $20,000.


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