Answer:
Theresa has $6,000 in equity.
Explanation:
To get this answer, you take the value of her car ($15,000) and subtract the amount that she owes from it ($15,000-$9,000). This gives you $6,000.
Hope this helps!
Her equity in the car is $6,000
Equity is the assets that a person or individual own.
Using this formula
Equity=Assets-Liability
Where:
Assets=$15,000
Liabilities=$9,000
Let plug in the formula
Equity=$15,000-$9,000
Equity=$6,000
Inconclusion Her equity in the car is $6,000
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