Answered: Ginger owns a property worth $500,000.…

Ginger owns a property worth $500,000. She owes $220,000 on her mortgage. How much equity does she have in the property? 44% 82% 56% 27%

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Ginger owns a property worth $500,000. She owes $220,000
on her mortgage. How much equity does she have in the
property?
44%
82%
56%
27%

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