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LuckyWell [14K]
3 years ago
15

Rachel lives in a home with a value of $195,000 and has a mortgage of $160,000. She has electronic equipment worth $2,325. She i

s paying off the equipment with a loan of $875. Her car, which she owns, is worth $9,300. She has $6,890 in a bank account and $1,437 on her credit card. She owes $4,800 in student loans. She has a piano worth $1,200. Construct a net worth statement to find Rachel's net worth
Mathematics
1 answer:
Elan Coil [88]3 years ago
4 0

To Find :

Net worth of Rachel.

Solution :

Net worth is given by the (sum of all the assets she owns) -( total amount of loans she have ).

Net \ Worth=( 195000+160000+2325+9300+1437+1200)-(875+4800)\\\\Net \ Worth=\$\ 363587

Therefore, net worth of Rachel is $ 363587.

Hence, this is the required solution.

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