To determine which statement is true about the value of Dante's assets and liabilities, let's calculate the totals for each.
1. Calculating Total Assets:
- Cash: [tex]\( \$ 1,100 \)[/tex]
- Investments: [tex]\( \$ 150,000 \)[/tex]
- House: [tex]\( \$ 8,000 \)[/tex]
- Car: [tex]\( \$ 0 \)[/tex] (not explicitly listed but assumed as asset value of zero)
Total Assets = [tex]\( \$ 1,100 + \$ 150,000 + \$ 8,000 + \$ 0 = \$ 159,100 \)[/tex]
2. Calculating Total Liabilities:
- Student Loan: [tex]\( \$ 4,000 \)[/tex]
- Mortgage: [tex]\( \$ 1,000 \)[/tex]
- Car Loan: [tex]\( \$ 5,000 \)[/tex]
Total Liabilities = [tex]\( \$ 4,000 + \$ 1,000 + \$ 5,000 = \$ 10,000 \)[/tex]
3. Calculating the Difference Between Assets and Liabilities:
- Difference = Total Assets - Total Liabilities
- Difference = [tex]\( \$ 159,100 - \$ 10,000 = \$ 149,100 \)[/tex]
Given this difference, we examine the statements:
- He has \[tex]$ 50,000 more in assets than in liabilities. (Incorrect, the difference is larger)
- He has \$[/tex] 50,000 more in liabilities than in assets. (Incorrect, he has more assets)
- He has \[tex]$ 110,000 more in liabilities than in assets. (Incorrect, he has more assets)
- He has \$[/tex] 160,000 more in assets than in liabilities. (Incorrect, the difference is less)
Since none of the provided statements exactly match the calculated difference, the correct interpretation is that based on the given data, the actual difference is:
Dante has [tex]\( \$ 149,100 \)[/tex] more in assets than in liabilities.
