Question

Nina owns a vacation home valued at $75,500. She owes $32,126 on her mortgage. How much are the asset and liability values for Nina’s vacation home? assets $ liabilities $ Table of assets and liabilities - first column Asset or liability Other real estate, second column Assets in dollars unknown, third column Liabilities in dollars unknown.

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Answer 1

The value of Nina's house is $75,500. However, she owes $32,126 on her mortgage.
The asset on her house is $75,500
The liability on her house is $32,156
The net worth of the house is $43,344 (difference between assets and liabilities)