my original loan amount for my home was $207,000. 10 years later, i sold my house for $300,000. over those…

my original loan amount for my home was $207,000. 10 years later, i sold my house for $300,000. over those 10 years, i paid off $50,000 from my original loan balance. what is the equity i have in my house after i sell it?

my original loan amount for my home was $207,000. 10 years later, i sold my house for $300,000. over those 10 years, i paid off $50,000 from my original loan balance. what is the equity i have in my house after i sell it?

Answer

Answer:

$143,000

Explanation:

Step1: Calculate remaining loan balance

$207000 - 50000=157000$

Step2: Calculate equity

$300000 - 157000 = 143000$