Question

Which of the following modifications to the list of assets and liabilities below would result in a positive net worth? Home owned $105,000. Mortgage owed $100,000. Car valued at $26,000. Car loan of $22,000. Investment fund of $4,500. Savings of $1,500. Credit card balance of $15,000. a. Lowering mortgage by $1,000. b. Increasing investment fund by $500. c. Adding $100 to savings. d. All of the above.

Answer 1

It is d. all of the above

Answer 2

Answer: d. All of the above.

Step-by-step explanation:

Hi, to answer this question we have to analyze the information given:

• Assets:

Home owned $105,000

Car valued at $26,000

Investment fund of $4,500

Savings of $1,500

Total:$137,000

• Liabilities:

mortgage owed $100,000

Car loan of $22,000

Credit card balance of $15,000

Total : $137,000

Assets and liabilities are equal, so any increase of assets or any decrease of liabilities will result in positive net worth.

In conclusion, the answer is option d. all of the above.

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