Betty purchased a house for a cost of $200,000 she borrowed $180,000 and made a down...
Betty purchased a house for a cost of $200,000 she borrowed $180,000 and made a down payment of $20,000 What is betty's equity position on the house
Homework Answers
Equity = Borrowing amount = 180000
Asset value = 200000
Equity position on the house = Borrowing / Asset value
= 180000 / 200000
= 90%
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