Bao and Mary Jane Lee have a yearly income of $93 comma 84293,842 and own a house worth $127 comma 900127,900, two cars worth a total of $ 28 comma 195$28,195 and furniture worth $14 comma 08514,085. The house has a mortgage of $85 comma 67785,677 and they have a car loan with an outstanding balance of $5 comma 8225,822. Utility bills, totaling $181181 for this month, have not been paid. Calculate their net worth, and explain what it means.
Bao and Mary Jane Lee have a yearly income of $93 comma 84293,842 and own a house worth $127 comma 900127,900, two cars worth a total of $ 28 comma 195$28,195 and furniture worth $14 comma 08514,085. The house has a mortgage of $85 comma 67785,677 and they have a car loan with an outstanding balance of $5 comma 8225,822. Utility bills, totaling $181181 for this month, have not been paid. Calculate their net worth, and explain what it means.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Bao and Mary Jane Lee have a yearly income of
$93 comma 84293,842
and own a house worth
$127 comma 900127,900,
two cars worth a total of
$ 28 comma 195$28,195
and furniture worth
$14 comma 08514,085.
The house has a mortgage of
$85 comma 67785,677
and they have a car loan with an outstanding balance of
$5 comma 8225,822.
Utility bills, totaling
$181181
for this month, have not been paid. Calculate their net worth, and explain what it means.
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