Please answer with explanation for each requirement Your house is valued at $200,000. Your car is worth $20,000. Your checking account has $3,000. Your saving account has $6,000. The value of your 401(k) account is $20,500. Your outstanding 15-year mortgage balance is $140,000. Your outstanding 4-year student loan balance is $30,000. Your outstanding 5-year auto loan balance is $10,000. Your outstanding credit card balance is $1,000. You also have a utilities bill of $200, a medical bill of $300, and a property tax bill of $2,000. PART A. What's the total value of your assets? a. $249,500 b. $229,000 c. $246,500 d. $243,500 PART B. What's the total value of your liabilities? a. $183,300 b. $181,200 c. $183,500 d. $173,500 PART C. What's the value of your net worth? a. $66,000 b. $73,000 c. $47,800 d. $60,200
Please answer with explanation for each requirement
Your house is valued at $200,000. Your car is worth $20,000. Your checking account has $3,000. Your saving account has $6,000. The value of your 401(k) account is $20,500.
Your outstanding 15-year mortgage balance is $140,000. Your outstanding 4-year student loan balance is $30,000. Your outstanding 5-year auto loan balance is $10,000. Your outstanding credit card balance is $1,000. You also have a utilities bill of $200, a medical bill of $300, and a property tax bill of $2,000.
PART A. What's the total value of your assets?
a. $249,500
b. $229,000
c. $246,500
d. $243,500
PART B. What's the total value of your liabilities?
a. $183,300
b. $181,200
c. $183,500
d. $173,500
PART C. What's the value of your net worth?
a. $66,000
b. $73,000
c. $47,800
d. $60,200
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