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Ierofanga [76]
3 years ago
5

Ted Riley owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings acc

ount with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth $90,000. He still owes $25,000 on his car and $150,000 on his home, and he has a balance on his credit card of $1,600. What is Ted's net worth?
Business
1 answer:
soldier1979 [14.2K]3 years ago
6 0

Answer:

Ted's net worth: 341,100

Explanation:

  • Lexus 40,000
  • Home 275,000
  • Checking account 800
  • Savings account 1,900
  • Mutual fund 110,000
  • Personal assets 90,000

Total Assets: 517,700

  • Car debt 25,000
  • Home debt 150,000
  • Credit card 1.600

Total Liabilities: 176,600

Net Worth: 341,100

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