FOCUS ON PERSONAL FINANCE LL/ACCESS >BI
6th Edition
ISBN: 9781260529326
Author: Kapoor
Publisher: McGraw-Hill Publishing Co.
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Chapter 14, Problem 1P
Summary Introduction
To calculate: The net worth of person S
Expert Solution & Answer
Explanation of Solution
Hence, the net worth of person S is $143,900.
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Students have asked these similar questions
Shelly's assets include checking & savings acct, stocks, household property, coin collection. Shelly calculates that her total assets are $165,200. Her current unpaid bills include auto loan, credit balance, taxes, total $21,300. Calculate her net worth.
Jamie McFarland has determined that the value of her liquid assets is $4,500, the value of her real estate is $128,000, the value of her personal possessions is $62,000, and the value of her investment assets is $73,000. She has also determined the value of her current liabilities is $5,700 and the value of her long-term liabilities is $89,000. What is the total value of her debts?
Hadiya Benzema is reviewing her assets and liabilities. What is her net worth?
Assets:
Cash in checking account, $1,000
Cash in savings account, $2,800
Current value of investments in U.S. savings bonds, $4,000
Current value of investments in stocks & mutual funds, $9,700
Current cash value of life insurance, $7,300
Current value accrued pension benefit, $25,000
Current value of house, $155,000
Current value of furniture and appliances, $8,000
Current value of jewelry, $600
Current value of automobile, $7,200
Liabilities:
Current unpaid bills, $800
Home mortgage unpaid balance, $100,000
Auto loan unpaid balance, $3,200
Property Taxes owed, $1,000
Home improvement loan balance, $1,200
Chapter 14 Solutions
FOCUS ON PERSONAL FINANCE LL/ACCESS >BI
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