Jordan Harris owns a vehicle worth $20,000 and a home worth $230,000.He has a checking account balance of$1,000, a savings account balance of$1,000, and a mutual fund worth $75,000. His personal assets areworth $100,000. He still owes $10,000 on his car, $101,000 on hishome, and $1,000 on his credit card.What is Jordan's net worth? MultipleChoice $538, 000 $427,000 $315,000$112,000 $136, 000

A financial indicator called net worth measures an individual's or an entity's value of assets less…

Han Harris owns a vehicle wort 000 and a home worth $230,0 has a checking account balanc 000, a savings account balanc- 000, and a mutual fund worth 000. His personal assets are th $100,000. He still owes $ 000 on his car, $101,000 on hi e, and $1,000 on his credit ca

Han Harris owns a vehicle wort 000 and a home worth $230,0 has a checking account balanc 000, a savings account balanc- 000, and a mutual fund worth 000. His personal assets are th $100,000. He still owes $ 000 on his car, $101,000 on hi e, and $1,000 on his credit ca

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

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Concept explainers

Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.

Question

Jordan Harris owns a vehicle worth $
20,000 and a home worth $230,000.
He has a checking account balance of
$1,000, a savings account balance of
$1,000, and a mutual fund worth $
75,000. His personal assets are
worth $100,000. He still owes $
10,000 on his car, $101,000 on his
home, and $1,000 on his credit card.
What is Jordan's net worth? Multiple
Choice $538, 000 $427,000 $315,000
$112,000 $136, 000

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