Answer :
To determine the dentist's personal net worth after paying off their student loans, we will follow these steps:
1. Calculate Total Assets: Add together the values of all personal assets.
2. Calculate Total Liabilities: Add together all liabilities.
3. Calculate Net Worth: Subtract the total liabilities from the total assets to get the net worth.
Let's break down each step:
### Step 1: Calculate Total Assets
The assets provided are:
- Car Value: \[tex]$26,250 - Savings Account Balance: \$[/tex]42,607
- Office Equipment: \[tex]$19,400 - Checking Account Balance: \$[/tex]79,391
- Home Value: \[tex]$218,950 Summing these assets, we get: \[ 26,250 + 42,607 + 19,400 + 79,391 + 218,950 = 386,598 \] So, the total assets amount to \$[/tex]386,598.
### Step 2: Calculate Total Liabilities
The liabilities given are:
- Car Loan: \[tex]$4,600 - Student Loans: \$[/tex]2,949
- Credit Card Balance: \[tex]$413 Summing these liabilities, we get: \[ 4,600 + 2,949 + 413 = 7,962 \] So, the total liabilities amount to \$[/tex]7,962.
### Step 3: Calculate Net Worth
To find the net worth, we subtract the total liabilities from the total assets:
[tex]\[ 386,598 - 7,962 = 378,636 \][/tex]
### Conclusion
The dentist's personal net worth after paying off their student loans is \$378,636.
Hence, the correct answer from the options provided is:
[tex]\[ \boxed{378,636} \][/tex]
1. Calculate Total Assets: Add together the values of all personal assets.
2. Calculate Total Liabilities: Add together all liabilities.
3. Calculate Net Worth: Subtract the total liabilities from the total assets to get the net worth.
Let's break down each step:
### Step 1: Calculate Total Assets
The assets provided are:
- Car Value: \[tex]$26,250 - Savings Account Balance: \$[/tex]42,607
- Office Equipment: \[tex]$19,400 - Checking Account Balance: \$[/tex]79,391
- Home Value: \[tex]$218,950 Summing these assets, we get: \[ 26,250 + 42,607 + 19,400 + 79,391 + 218,950 = 386,598 \] So, the total assets amount to \$[/tex]386,598.
### Step 2: Calculate Total Liabilities
The liabilities given are:
- Car Loan: \[tex]$4,600 - Student Loans: \$[/tex]2,949
- Credit Card Balance: \[tex]$413 Summing these liabilities, we get: \[ 4,600 + 2,949 + 413 = 7,962 \] So, the total liabilities amount to \$[/tex]7,962.
### Step 3: Calculate Net Worth
To find the net worth, we subtract the total liabilities from the total assets:
[tex]\[ 386,598 - 7,962 = 378,636 \][/tex]
### Conclusion
The dentist's personal net worth after paying off their student loans is \$378,636.
Hence, the correct answer from the options provided is:
[tex]\[ \boxed{378,636} \][/tex]