The personal assets and liabilities of a dentist are listed below.

\begin{tabular}{|l|l|}
\hline Car Value & [tex]$\$[/tex]26,250[tex]$ \\
\hline Car Loan & $[/tex]\[tex]$4,600$[/tex] \\
\hline Savings Account Balance & [tex]$\$[/tex]42,607[tex]$ \\
\hline Office Equipment & $[/tex]\[tex]$19,400$[/tex] \\
\hline Student Loans & [tex]$\$[/tex]2,949[tex]$ \\
\hline Credit Card Balance & $[/tex]\[tex]$413$[/tex] \\
\hline Checking Account Balance & [tex]$\$[/tex]79,391[tex]$ \\
\hline Home Value & $[/tex]\[tex]$218,950$[/tex] \\
\hline
\end{tabular}

What is the dentist's personal net worth if they pay off their student loans?

A. [tex]$\$[/tex]105,641[tex]$
B. $[/tex]\[tex]$121,998$[/tex]
C. [tex]$\$[/tex]159,686[tex]$
D. $[/tex]\[tex]$381,585$[/tex]



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]