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.

Tyrone’s hourly wage is $18 and his net pay is 72% of his earnings. tyrone spends about $1,800 on his monthly expenses. if tyrone works 40 hours per week and has no other sources of income, what is his total monthly cash inflow? (hint: assume that there are 4 pay periods per month.)