Answered

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You own a house with an appraised value of $300,000. Your equity in the home is $125,000. What is your mortgage balance?

Sagot :

altavistard

Answer:

The mortgage balance is $175,000

Step-by-step explanation:

Remember:  House value = equity + mortgage.  Therefore,

                     $300,000     = $125,000 + mortgage balance

The mortgage balance is $175,000.

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