Ask Question
10 April, 10:12

Julie bought a house for $315,000 and has a $285,000 mortgage. she claims she has $315,000 in equity. is she correct? if not, how much home equity does she have? explain.

+1
Answers (1)
  1. 10 April, 13:49
    0
    No she is not. Equity is equal to assets less liabilities. Her asset is the house market value and her liability is the payable mortgage amount of the house.

    where

    asset = $315000

    liability = $285000

    Julie's Home equity = asset - liability

    = $315000 - $285000

    = $ 30000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Julie bought a house for $315,000 and has a $285,000 mortgage. she claims she has $315,000 in equity. is she correct? if not, how much home ...” in 📘 Computers and Technology if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers