Final answer:
Jamie Lee and Ross can potentially contribute $5,500 towards the Cameron house, assuming they can provide $3,000 in cash and take on the existing $2,500 mortgage. The contribution for the second house is uncertain, pending further discussion.
Step-by-step explanation:
Jamie Lee and Ross's potential financial contributions toward purchasing a home can be calculated using two different scenarios provided. In the first scenario detailed in the March 27, 1815 letter, the amount that can be put towards the Cameron house is $5,500. It is mentioned that $3,000 could be furnished in cash immediately and the rest of the amount would be covered by assuming the existing mortgage of $2,500.
In the second scenario given in the July 12, 1915 letter, the potential financial contribution is not specified; however, the house is valued at about $6,500. There is a mention that some money could be put up, but the exact amount is not disclosed, indicating a need for further discussion and assessment of the situation.
Additionally, based on another provided scenario concerning a different house owned by Frank, we learn that Frank's house has a value of $160,000 with a mortgage balance owed of $60,000. This means Frank's equity in the house is $100,000, which could potentially be used towards purchasing another property if he chooses to do so.