Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Jane and Fran work together and make the same amount of money. Jane owns her house, on which she has a mortgage, while Fran rents. Neither is able to put away any savings after paying their bills and other monthly expenses. If they both have the same net worth (assets minus debts) now, make a similar housing payment, and neither is able to save money over the next five years, who is likely to have a higher net worth at that time

Sagot :

Based on the description that we have here the person that is more likely to have the higher net worth is Jane because part of the monthly mortgage payment she makes goes to pay off her loan, thereby increasing her equity.

What is a mortgage?

This is the term that has to do with a lender and a person. The mortgage gives the lender the right to take over your property if you do not pay back what you have borrowed.

Mortgages are what people use to buy homes. When they pay back, they do so with interest.

Read more on mortgage here:

https://brainly.com/question/1318711

#SPJ1

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.