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anyanavicka
1 month ago
11

Lana owns a house worth $325,000 and has a mortgage of $245,000. She owns a guitar worth $750. She also owns a car worth $15,000

and has $9,000 in car loans. She has $8,000 in stock investments and $2,100 in a savings account. What is Lana’s net worth?
Business
2 answers:
harina [3.8K]1 month ago
9 0

Net worth is defined as total assets subtracted by total liabilities

Your net worth comprises both financial and non-financial assets owned by an individual or entity, less any existing liabilities.

An asset refers to any valuable resource, whereas a liability encompasses all debts owed.

Total assets are summarized as:

325,000 (house) + 750 (guitar) + 15,000 (car) + 8,000 (investments) + 2,100 (savings)

which totals 350,850.

Total liabilities consist of:

245,000 (mortgage) + 9,000 (car loans)

which adds up to 254,000.

Thus, net worth calculates to

350,850 - 254,000

which equals 96,850.
Scilla [3.8K]1 month ago
5 0
Net worth is calculated as total assets minus total liabilities.

The total assets are
325,000 + 750 + 15,000 + 8,000 + 2,100
which equals 350,850.

Concerning total liabilities, we calculate
245,000 + 9,000
for 254,000.

Thus, net worth is evaluated as
350,850 - 254,000
resulting in 96,850.

I hope this helps!
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