Question

Patricia McDonald has determined that the value of her liquid assets is $4,500, the value of her real estate is $128,000, the value of her personal possessions is $62,000 and the value of her investment assets is $73,000. She has also determined the value of her current liabilities is $7,500 and the value of her long term liabilities is $98,000. What is Jamie's net worth?

Answer 1

$169,500

Step-by-step explanation:

The value of a person's worth is determined by deducting the person's liabilities from assets owned.

For Patricia McDonald, All assets are;

Liquid assets = $4,500

Real estate = $128,000

Personal possessions = $62,000

Investment assets = $73,000

Total assets = $4,500 + $128,000 + $62,000 + $73,000

= $267,500

Her liabilities;

Long term liabilities = $98,000

Net worth = Assets - Liabilities

= $267,500 - $98,000

= $169,500

Her net worth is $169,500