You have a home currently valued at $250,000. You have now paid down the original mortgage on

Question:

You have a home currently valued at $250,000. You have now paid down the original mortgage on this home by 35 percent. You borrowed $220,000 for 30 years at 8.375%. As with all mortgages, payments are made monthly. What is your equity value on this home?
a) $220,000
b) $107,000
c) $143,000
d) $77,000
e) None of the above