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7. The Smith family owns a house worth $750,000 and they still owe $567,245 on

their mortgage. They decide to take out a home equity loan. How much equity do

they have in their house? Show your work below.

Respuesta :

Jsf09

Step-by-step explanation:

750000-567245 = 182,755

expensive house, must have a great job.

The amount of equity that they have in their house should be considered as the $182,755.

Calculation of the equity;

Since The Smith family owns a house worth $750,000 and they still owe $567,245 on their mortgage.

So here the equity be like

= Assets - liabilities

= $750,000 - $567,245

= $182,755

Hence, The amount of equity that they have in their house should be considered as the $182,755.

Learn more about equity here: https://brainly.com/question/24316217

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