Final answer:
Mary has an equity of $18,000.
Step-by-step explanation:
Equity is the market value of the property minus the loan amount. In this case, Mary's property is worth $23,000 and she has a loan of $5,000. To find her equity, subtract the loan amount from the property value:
Equity = Property value - Loan amount
Equity = $23,000 - $5,000
Equity = $18,000
Therefore, Mary has an equity of $18,000.