5. In 1998, Ben bought co-op for 140,000 He borrowed 100,000 from the bank to m the purchase. Now he wants to sell the co-op, but the market value has decreased to 85,000 His equity in the co-op is 36,800 If he sells the co-op he will have to pay of mortgage. How much will he make after he pays off the mortgage? 21800 square Overall loss

## Step 1: Calculate the amount Ben will receive after selling the co-op.<br />### \[ \text{Amount received} = \text{Market value} - \text{Mortgage} \]<br />### \[ \text{Amount received} = \$85,000 - \$100,000 \]<br />### \[ \text{Amount received} = -\$15,000 \]<br /><br />## Step 2: Calculate the overall loss Ben will make after paying off the mortgage.<br />### \[ \text{Overall loss} = \text{Equity} - \text{Amount received} \]<br />### \[ \text{Overall loss} = \$36,800 - (-\$15,000) \]<br />### \[ \text{Overall loss} = \$36,800 + \$15,000 \]<br />### \[ \text{Overall loss} = \$51,800 \]