Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?

PERSONAL FINANCE

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20-06-2017
Mathematics

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Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?

PERSONAL FINANCE

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Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-06-20T23:17:00+02:00

Aliwohaish12 Aliwohaish12

20-06-2017

Hi there

Since Theresa owes $9,000 this amount enters in liability

the value of her car which is 15000
This amount enters in assets

So to find the equity in the car
Owners equity=assets-liability
Owners equity=15000-9000=6000

6000 is the equity in the car

Good luck!

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53844 53844 · Answer 2 · 2020-09-10T02:00:26+02:00

53844 53844

10-09-2020

Answer:

6000

* I took the test and the answer was 6000 :)

Answer Link

Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car? PERSONAL FINANCE

Respuesta :

Otras preguntas

Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?

PERSONAL FINANCE