Respuesta :
Answer:
$199,142
Step-by-step explanation:
Given that
The value of the house i.e. assets is $432,600
The mortgage i.e. liability is $233,458
We need to find out the equity
As we know that
The accounting equation is
Total assets = Total liabilities + total equity
$432,600 = $233,458 + total equity
So, the total equity is
= $432,600 - $233,458
= $199,142
Answer:
No, she is not correct. She has only $30,000 in home equity. Equity is the value of ownership in an asset minus any debts owed on it. $315,000 minus $285,000 is $30,000.
Step-by-step explanation:
Took it straight from EDG 2022
