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Bumek [7]
3 years ago
10

Assume you have a car worth $3,200 and investments worth another $7,500. of you owe $1,300 on credit cards and that is your only

debt, how mush is your net worth?
Business
1 answer:
coldgirl [10]3 years ago
7 0
<span>Net worth is calculated by adding all of your assets together and then subtracting your total amount of debt. In this case, your net worth are the items you own and how much value they are worth. The car ($3200) and the investments ($7500) added together make a total of $10700. Your total debts are $1300 from your credit cards. Subtracting debts from assets ($10700 - $1300) you have a total net worth of $9400.</span>
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For example, if an asset is used 40% of the time for a non-public motive, the deduction for its decline in value is decreased by 40%. The decline in fee of positive property costing $300 or less may be the value, this is, you may be entitled to an immediate deduction.

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