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mote1985 [20]
3 years ago
12

Clarissa's car is valued at $14,000, and she owes $7,000 on it. What is her current equity?

Mathematics
2 answers:
goldenfox [79]3 years ago
4 0

Answer:

Total equity is $7000

Step-by-step explanation:

The equity is the value left, once you discount the liabilities.

Total equity formula is

Equity = Assets - Liabilities

In this case ,

Assets=14000 (Value of Clarissa's car)

Liabilities=7000 (Amount she owes)

Equity= 14000 - 7000

Equity=7000

Vedmedyk [2.9K]3 years ago
3 0
She has an equity of $7,000 left
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