Q1: You purchased a vehichle for 25,000. After three years of making payments, your loan balance is 10,000. If the vehicles value has depreciated and is currently worth 15,000, how much equity do you have?

Q2: You purchased a vehicle for 20,000. After two years of making payments your loan balance is 10,000. If you have equity in the vehicle of 4,000 what is the current value of the vehicle?

Q3: You purchased a vehicle two years ago. You currently owe 12,000 and your current equity is 18,000. If the vehicle has lost 7,000 of value since you purchased it, what was the original loan amount?