Answer:
Total assets amount to $274,500
Total liabilities stand at $156,000
Thus, net worth equals $118,500
Step-by-step explanation:
Vijay’s assets include his house, stock investments, checking account balance, piano, and car.
Total assets=$250,000+$3,000+$1,700+$1,800+$18,000=$ 274,500.00
Vijay’s liabilities consist of debts owed to others, including the mortgage and car loans.
Total liabilities=$150,000+$6,000=$156,000
Net worth is calculated as total assets minus total liabilities=$274,500-$156,000=$118,500.00