eli5:Please explain to me what is meant by term “equity” , if possible also explain with the help of an easy example , i am unable to understand from google also the example there are complicated
In: Economics
Equity is the value of something you own that is over and above whatever debt you owe on it. Example: You have car that’s worth $20k and you owe $15k on the car loan. Your equity is $5k.
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