Question

Charli has a stock portfolio worth $19,000. Her home is valued at $525,000. Charli's SUV is valued at $90,000. She owes $400,000 on her mortgage and $50,000 on her car loan. Her credit card debt is $200,000. Charli owes student loans of $20,000

What is the total value of Charli's assets (stock portfolio, home, and SUV), and how does it compare to her total debts (mortgage, car loan, credit card debt, and student loans)?

A) Charli's total assets are $634,000, which is higher than her total debts.

B) Charli's total assets are $634,000, which is lower than her total debts.

C) Charli's total assets are $634,000, which is equal to her total debts.

D) It is not possible to determine Charli's financial situation from the given information.

Answer 1

Charli's total assets are $634,000, which is lower than her total debts.

Step-by-step explanation:

Charli's total assets include her stock portfolio ($19,000), home ($525,000), and SUV ($90,000), which add up to $634,000. Her total debts consist of her mortgage ($400,000), car loan ($50,000), credit card debt ($200,000), and student loans ($20,000), which add up to $670,000.

Therefore, the total value of Charli's assets is $634,000, which is lower than her total debts.