Question

Ted owns a lexus worth $44,000. he owns a home worth $270,000. he has a checking account with $750 in it and a savings account with $1,400 in it. he has a mutual fund worth $95,660. his personal assets are worth $90,230. he still owes $30,870 on his car and $136,700 on his home, and he has a balance on his credit card of $1,340. what is ted’s net worth?

Answer 1

Ted's net worth is calculated by summing all his assets, which total $502,040, and subtracting his liabilities, which total $168,910, resulting in a net worth of $333,130.

Step-by-step explanation:

To calculate Ted’s net worth, we need to sum up all his assets and then subtract his liabilities. Ted's assets include his Lexus ($44,000), home ($270,000), checking account ($750), savings account ($1,400), mutual fund ($95,660), and personal assets ($90,230). His liabilities include the remaining car loan ($30,870), home mortgage ($136,700), and credit card balance ($1,340). Net worth is calculated as follows:

• Total Assets = $44,000 + $270,000 + $750 + $1,400 + $95,660 + $90,230 = $502,040
• Total Liabilities = $30,870 + $136,700 + $1,340 = $168,910
• Net Worth = Total Assets - Total Liabilities = $502,040 - $168,910 = $333,130

Therefore, Ted's net worth is $333,130.

Ted's net worth can be calculated by subtracting his liabilities from his assets. His assets include the value of his Lexus ($44,000), his home ($270,000), his checking account ($750), his savings account ($1,400), and his mutual fund ($95,660). So, his total assets amount to $412,810.

His liabilities include the amount he owes on his car ($30,870), the amount he owes on his home ($136,700), and his credit card balance ($1,340). So, his total liabilities amount to $168,910.

To calculate Ted's net worth, we subtract his total liabilities from his total assets: $412,810 - $168,910 = $243,900. Therefore, Ted's net worth is $243,900.

Answer 2

To find Ted's net worth, we must subtract his liabilities ($168,910) from his total assets ($502,040). Ted's net worth amounts to $333,130.

Step-by-step explanation:

To calculate Ted's net worth, we need to subtract his liabilities from his assets. The sum of Ted's assets includes the value of his Lexus ($44,000), his home ($270,000), checking account ($750), savings account ($1,400), mutual fund ($95,660), and personal assets ($90,230). This totals $502,040. His liabilities consist of the remaining car loan ($30,870), home mortgage ($136,700), and credit card balance ($1,340), which add up to $168,910.

By subtracting Ted's liabilities from his assets, we find his net worth. Here's the calculation:

• Assets = $44,000 (car) + $270,000 (home) + $750 (checking) + $1,400 (savings) + $95,660 (mutual funds) + $90,230 (personal assets) = $502,040
• Liabilities = $30,870 (car loan) + $136,700 (home mortgage) + $1,340 (credit card) = $168,910
• Net Worth = Assets - Liabilities = $502,040 - $168,910

Ted's net worth is calculated by subtracting his total liabilities from his total assets. Ted's net worth is $333,130.