Question

Janelle is a 61-year old teacher. Her assets and liabilities are listed below. What is the total value of her liabilities?

Home Value: $242,600
Mortgage: $3,609
Credit Card Balance: $2,769
Checking Account: $40,255
Car Value: $17,500
Real Estate Investment: $93,818
Retirement Portfolio: $475,223
Money Market Account: $193,241
What is the total value of her liabilities?
A. $6,378

B. $199,619

C. $1,062,637

D. $1,069,015

Answer 1

Janelle's total liabilities value is the sum of her mortgage ($3,609) and credit card balance ($2,769), which equals $6,378 (Option A).

Step-by-step explanation:

The total value of Janelle's liabilities is the sum of all the money she owes, which includes her mortgage and credit card balance. To find this total, we simply add these two amounts together:

• Mortgage: $3,609
• Credit Card Balance: $2,769

Adding these two liabilities, we get:

$3,609 (Mortgage) + $2,769 (Credit Card) = $6,378

Therefore, the total value of Janelle's liabilities is $6,378, which corresponds to option A.