Answer:
What are you specifically asking?
Explanation:
This question isn't clear enough for me to answer.
B a nonresponse occured
since the data was not complete
I think it is I went. Not sure though
In simple terms, the word "mortgage" is an account payable in which your house is the collateral. The asset acquired for the house is $315,000 but this value should be subtracted with the mortgage amount, $285,000 to calculate for the equity.
equity = $315,000 - $285,000
= $30,000
Thus, the home equity Julie has is only $30,000.
