Kim Jae-Yun owns a condo worth $270,000, a car valued at $30,500, and miscellaneous assets worth $15,500. She owes $179,000 on the condo and $11,000 on the car and has no other debts. Her retirement account, in which she is fully vested, contains $34,500 in mutual funds. She was just insured with a $680,000 term life insurance policy. What are her total assets?
Kim Jae-Yun owns a condo worth $270,000, a car valued at $30,500, and miscellaneous assets worth $15,500. She owes $179,000 on the condo and $11,000 on the car and has no other debts. Her retirement account, in which she is fully vested, contains $34,500 in mutual funds. She was just insured with a $680,000 term life insurance policy. What are her total assets?
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 42P
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Question
Kim Jae-Yun owns a condo worth $270,000, a car valued at $30,500, and miscellaneous assets worth $15,500. She owes $179,000 on the condo and $11,000 on the car and has no other debts. Her retirement account, in which she is fully vested, contains $34,500 in mutual funds. She was just insured with a $680,000 term life insurance policy. What are her total assets?
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