Final answer:
The correct answer is 3) 5,500, representing the current value of Mrs. Marson's car for sale. For both Marvin's hypothetical car decision and the real estate scenarios, detailed assessment beyond just the numbers, including condition and potential equity, is critical for making informed decisions.
Step-by-step explanation:
Mrs. Marson's research shows that the car has a current value of $5,500, so the correct option is 3) 5,500. When discussing the current value of something, such as a car or a house, it is essential to pick the exact figure that represents its worth in the market today.
For Marvin's case, deciding between two seemingly similar cars priced at $4,000 and $4,600 involves additional considerations beyond the listed price. Factors such as the car's overall condition, history, reliability, and any included warranties or services should be evaluated. The cheaper option may seem appealing purely based on price, but the more expensive one could offer more value if it is in better condition or includes additional benefits. Therefore, without more information, it is impossible to determine which car Marvin should buy.
Concerning real estate, the selling price or current value of Freda and Ben's houses points out their respective equities. Freda's house, currently valued at $250,000 with no debt owed, means her equity is the full amount. Ben's house, valued at $160,000 with $60,000 owed, implies he has $100,000 in equity.