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adell [148]
3 years ago
12

Fiona bought a house three years ago at the price of $150,000. Today the house is worth $160,000. Fiona still owes $110,000 on t

he home's mortgage loan. What is Fiona's current equity in her home?
Mathematics
1 answer:
prohojiy [21]3 years ago
7 0

Answer:

$50,000

Step-by-step explanation:

Here, we are interested in calculating Fiona’s current equity in her home.

The term equity in this case simply refer to how much is own in the present value of the house by the owner who took the mortgage.

To calculate this, we start by subtracting how much is left of the mortgage from the present house value.

How much left of the mortgage is $110,000 while the current house value is $160,000

Thus the current equity is 160,000 - 110,000 = $50,000

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Among the contestants in a competition are 46 women and 23 men. If 5 winners are randomly selected, what is the probability that
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Answer:

When 5 winners are randomly selected, the probability that they are all men is 0.003.

Step-by-step explanation:

Among the contestants in a competition are 46 women and 23 men.

Total persons are =46+23=69

When one winner is chosen, there are 68 people left, when second winner is chosen there are 67 people left and so on.

So, the probability that they are all men is given by:

\frac{23}{69} \times\frac{22}{68} \times\frac{21}{67} \times\frac{20}{66} \times\frac{19}{65}

= \frac{4037880}{1348621560} = 0.002999 ≈ 0.003

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