Question

Denise buys a $100,000 condo using a $20,000
down payment on a 30-year fixed-rate loan.
After 5 years of payments, she's made
approximately $24,000 in payments and still
owes approximately $75,000. How much
equity does Denise have in her house? *

Answer 1

$25,000 because she still owes $75,000.