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Ratling [72]
2 years ago
11

Maya owns a house valued at $432,600. She still owes $233,458 on her mortgage. How much equity does she have in the house? (3 po

ints)
Mathematics
1 answer:
IRISSAK [1]2 years ago
7 0

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

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In the given question, there are several information's of immense importance and they can be used to find the necessary answers. It is already given that John and Andrew have 3.40 pound together. It is also given that John has 1.20 pound more than Andrew. It is also assumed that John has"u" pound and Andrew has "v" pounds.
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