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Emily owns a house with a fair market value of $189000. When she purchased the home she paid $211000, but that was several years ago. She currently owes $195000. How much equity has Emily built since she
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Emily owns a house with a fair market value of $189000. When she purchased the home she paid $211000, but that was several years ago. She currently owes $195000. How much equity has Emily built since she first purchased the house

User Joserobleda
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3.7k points

1 Answer

5 votes

Answer:

-$6,000

Step-by-step explanation:

Calculation for How much equity has Emily built since she first purchased the house

Using this formula

Equity=Fair market value- Amount currently owes

Let plug in the formula

Equity=$189,000-$195,000

Equity=-$6,000

Therefore How much equity has Emily built since she first purchased the house is -$6,000

User Mtoloo
by
3.2k points
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