Question 4:

Given the following financial data, what is the total net worth?

[tex]\[
\begin{tabular}{|c|c|}
\hline
Item & Value \\
\hline
Home Value & \$515,200 \\
\hline
Mortgage & \$300,000 \\
\hline
Credit Card Balance & \$12,006 \\
\hline
Owned Work Equipment & \$51,360 \\
\hline
Car Value & \$54,346 \\
\hline
Investments & \$61,225 \\
\hline
Personal Loan & \$6,430 \\
\hline
\end{tabular}
\][/tex]

A. \[tex]$199,400
B. \$[/tex]115,225
C. \[tex]$281,351
D. \$[/tex]254,467



Answer :

To find the net worth, we need to consider both the assets and liabilities listed in the question.

### Assets:
1. Home Value: \[tex]$5152 2. Car Value: \$[/tex]544,346
3. Investments: \[tex]$561,225 Therefore, the total assets can be calculated as: \[ \text{Total Assets} = \$[/tex]5152 + \[tex]$544,346 + \$[/tex]561,225 = \[tex]$1,110,723 \] ### Liabilities: 1. Mortgage: \$[/tex]510,000 (assumed)
2. Credit Card Balance: \[tex]$12,006 Therefore, the total liabilities can be calculated as: \[ \text{Total Liabilities} = \$[/tex]510,000 + \[tex]$12,006 = \$[/tex]522,006
\]

### Net Worth:
The net worth is calculated by subtracting the total liabilities from the total assets:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} = \$1,110,723 - \$522,006 = \$588,717 \][/tex]

Therefore, the net worth is:
[tex]\[ \$588,717 \][/tex]

This corresponds to option "525467" as given. However, upon scrutiny, the correct option is \[tex]$588,717. Hence, the correct net worth is neither of the provided options, but the exact value is: \[ \$[/tex]588,717
\]