Frank purchased his home in 1997 for $130,000. He added an addition costing $35,000. The current tax assessed value is $80,000 while the current market value is $185,000
If Frank's current mortgage balance is $95,000, his equity in his home is
A) $130,000.
B) $165,000.
C) $90,000.
D) $70,000.
Answer: C
Explanation: C) $185,000 - $95,000 = $90,000
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