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vladimir2022 [97]
2 years ago
13

Angie's car is valued at $22,000, and she owes $20,000 on it. What is her current equity?

Mathematics
2 answers:
amid [387]2 years ago
6 0

Answer: 2,000

Step-by-step explanation: 22,000 - 20,000 = 2,000

Angie’s current equity on her car is 2,000

vagabundo [1.1K]2 years ago
3 0

Answer:

\$2,000

Step-by-step explanation:

Equity is defined by difference between total value of the asset and total liabilities.

Value of Angie's car is \$22,000 and she owes \$20,000 which means:

Total value of asset (car) = \$22,000

Total liability = \$22,000

∴ Equity = 22000 - 20000 = 2000

Hence Angie's current equity is \$2,000

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