Answer :
To determine the dentist's personal net worth after paying off their student loans, we need to subtract their liabilities from their assets.
### Step-by-Step Solution
1. List the Assets:
- 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 2. Calculate Total Assets: \[ \text{Total Assets} = \$[/tex]26,250 + \[tex]$42,607 + \$[/tex]19,400 + \[tex]$79,391 + \$[/tex]218,950 = \[tex]$386,598 \] 3. List the Liabilities: - Car Loan: \$[/tex]4,600
- Credit Card Balance: \[tex]$413 Note: Since the student loans are paid off, we will not include them as a current liability. 4. Calculate Total Liabilities: \[ \text{Total Liabilities} = \$[/tex]4,600 + \[tex]$413 = \$[/tex]5,013
\]
5. Calculate Net Worth:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} \][/tex]
[tex]\[ \text{Net Worth} = \$386,598 - \$5,013 = \$381,585 \][/tex]
Therefore, the dentist's personal net worth, after paying off the student loans, is [tex]\(\$381,585\)[/tex].
Among the provided options, the correct answer is:
[tex]\[ \boxed{\$381,585} \][/tex]
### Step-by-Step Solution
1. List the Assets:
- 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 2. Calculate Total Assets: \[ \text{Total Assets} = \$[/tex]26,250 + \[tex]$42,607 + \$[/tex]19,400 + \[tex]$79,391 + \$[/tex]218,950 = \[tex]$386,598 \] 3. List the Liabilities: - Car Loan: \$[/tex]4,600
- Credit Card Balance: \[tex]$413 Note: Since the student loans are paid off, we will not include them as a current liability. 4. Calculate Total Liabilities: \[ \text{Total Liabilities} = \$[/tex]4,600 + \[tex]$413 = \$[/tex]5,013
\]
5. Calculate Net Worth:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} \][/tex]
[tex]\[ \text{Net Worth} = \$386,598 - \$5,013 = \$381,585 \][/tex]
Therefore, the dentist's personal net worth, after paying off the student loans, is [tex]\(\$381,585\)[/tex].
Among the provided options, the correct answer is:
[tex]\[ \boxed{\$381,585} \][/tex]