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    StettN's Avatar
    StettN Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 25, 2011, 04:25 PM
    How much equity do I have in this purchase?
    I need to know how much equity I currently have in this truck at this time. The truck was purchased in November 2010. My current truck payment is $412.68 for 60 months. "I bought a truck for $27,099.00, putting $13,555.00 down. The annual percentage rate on this loan is 17.99 %. How much equity do I have in the truck?"
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Feb 25, 2011, 04:29 PM

    Equity is calculated by subtracting the amount owed from the market value.
    StettN's Avatar
    StettN Posts: 2, Reputation: 1
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    #3

    Feb 25, 2011, 04:33 PM
    Thank you very much :)
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