Question

(Will dive brainly!! please!!)

The Steven's family owns a house worth $280,000, of which they still owe $113,545 on the mortgage. They also own two cars, one worth $5,200 and the other worth $15,600. They still owe $9,200 on one of the car loans. They have $2,300 in credit card debt and owe $18,200 for their daughter's wedding. What is their net worth?


A) $157,555
B) $162,155
C) $300,800
D) $143,245

Answer 1

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Answer:

  A) $157,555

Step-by-step explanation:

The sum of assets is ...

  house + 2 cars = $280,000 +5,200 +15,600 = $300,800

The sum of liabilities is ...

  mortgage +car loan +credit card +wedding

  = $113,545 +9,200 +2,300 +18,200 = $143,245

The family's net worth is the difference between assets and liabilities:

  $300,800 -143,245 = $157,555