Question
Danylko's liabilities include a mortgage against his townhouse of $415,000, with 20 years remaining term and current monthly repayments of $3130.89, and a credit card
Danylko's liabilities include a mortgage against his townhouse of $415,000, with 20 years
remaining term and current monthly repayments of $3130.89, and a credit card which
currently has a balance of $1,225.
My balance sheet should include the entire mortgage balance or just the monthly repayments. Can you tell me which one is correct?
| Liabilities | |
| Credit Card | $ 1,225.00 |
| Mortgage | $ 415,000.00 |
| Total liabilities | $ 416,225.00 |
| Liabilities | |
| Credit Card | $ 1,225.00 |
| Mortgage | $ 3,130.89 |
| Total liabilities | $ 4,355.89 |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
