[Solved] Ten Years Ago, Madison and Toby Purchased a House for $200,000

Question 194
Multiple Choice
Question 194

Ten years ago, Madison and Toby purchased a house for $200,000. Today the market value of the house is $400,000. They still owe a balance of $125,000 on the mortgage. What is their equity in the house?

A) $75,000.
B) $125,000.
C) $275,000.
D) $400,000.

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