1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alekssandra [29.7K]
3 years ago
15

Lucky Louie just inherited $50,000 from his great aunt, has $1,500 in his checking account, owns a car with a value of $8,000, a

nd has $20,000 in his 401(k) at work. Louie owes $6,000 on his car, $12,000 on school loans and $3,000 on his credit card. What is Louie's net worth?
Business
1 answer:
kodGreya [7K]3 years ago
8 0

Answer:

$58,500

Explanation:

Net worth is the difference between total assets and total liabilities.

I.e network = Asset - Liabilities

For Louie: Assets

Inheritance            $  50,000.00

Checking account  $    1 ,500.00

Car                          $    8,000.00

403 (k)                    <u>  $  20,000.00</u>

Total                          $ 79,500.00

Liabilities            

Car loan                       $ 6,000.00

School fee loan           $ 12,000.00

credit card                  <u>  $ 3, 0000.00</u>

Total                              $21, 000.00

Net worth = $ 79,500- $21,000

                 =$58,500

You might be interested in
Economic growth in the country of Southville has slowed down in the last few months. Following a collapse in housing​ prices, se
skad [1K]

Complete Question:

A. According to census data, the percentage of Southville's population that lives in rural areas has gradually been shrinking.

B. The standards for obtaining a mortgage loan in Southville have been more stringent compared to many other countries.

C. Prior to the crisis, the prices of existing homes also increased in proportion to the prices of new homes in Southville.

D. A large proportion of home buyers in Southville were individuals who already owned one or more houses.

E. The inflation-adjusted real wage in the construction industry increased by 10 percent prior to the crisis.

Answer and Explanation:

Options A and D would weaken Bob's argument. The reason why option A would weaken Bob's argument would be because Bob said that the population is increasing whereas the according to the census data, the population has gradually been shrinking.

The reason for option D is that the individuals who already owned houses were buying new houses. So what was the need for them to buy additional new houses?

4 0
3 years ago
The original cost of a product is 75$. Inflation for the first year is 8 percent; for the second year, inflation is 10 percent.
jonny [76]

Answer:

Answer 25 questions from  an A,B

Explanation:

4 0
3 years ago
Can I have some help?
Kisachek [45]

Answer:

b

Explanation:

8 0
3 years ago
Definition of economic costs manuel lives in san diego and runs a business that sells guitars. in an average year, he re
Mice21 [21]
What was the question?
8 0
3 years ago
The __________ is the difference between annual government expenditures and revenues.
sergiy2304 [10]
The standardized deficit <span>is the difference between annual government expenditures and revenues.
This calculation is made on the assumption that the market is on full employment. The difference between expenditures and revenues in this matter could be used to determine whether the government has run its operations efficiently or not.</span>
7 0
3 years ago
Read 2 more answers
Other questions:
  • Google this for me: What is business management?
    15·1 answer
  • Widely varying consumption ratios: work against the implementation of activity-based costing. indicate an out-of-control product
    11·1 answer
  • Which is an example of something that is inelastic?
    6·1 answer
  • Molly C. has just purchased a pasta manufacturing business. Molly’s new business produces ravioli, tortellini, and other cheese-
    7·1 answer
  • Cajemp Inc. is a real estate developer that has been in the market for several years. Most real estate developers are now constr
    8·1 answer
  • The right to sell a good or service within an exclusive market is a _____.
    15·1 answer
  • The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 14,400 Balance
    12·1 answer
  • Dividends at FSL are expected grow at a rate of negative 5.4% per year (the dividends are getting smaller). The stock just paid
    15·1 answer
  • Adjusting entries are made __________ of the accounting period to distribute revenue and expenses to the period in which they ar
    10·1 answer
  • If a manufacturing process takes 4 hours per unit of x1 and 2 hours per unit of x2 and a maximum of 100 hours of manufacturing p
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!