"Frank bought a house for $100,000. He put 20% down and borrowed the rest from the bank. However, the value of the house has now increased to $160,000 and he has paid off $20,000 of the bank loan. What is the equity that Frank has in his home

$100,000

Explanation:

The computation of the equity in his home is shown below;

Given that

Increased in the value of the house = $160,000

And, the amount he has to paid is

= Borrowed amount - down payment

= $80,000 - ($100,000 × 20%)

= $80,000 - $20,000

= $60,000

So, the equity is

= $160,000 - $60,000

= $100,000

hence, the equity value is $100,000

answer; niosh, the national institute for occupational safety and health;

answercontrol is returned to method c;