To determine the lawyer's net worth, we need to follow these steps:
1. Calculate the Total Assets:
- Assets include:
1. Car Value: \[tex]$19,280
2. Savings Account Balance: \$[/tex]15,765
3. Season Baseball Tickets: \[tex]$10,340
4. Checking Account Balance: \$[/tex]5,782
5. Home Value: \[tex]$259,400
- Sum of all assets:
\[
\text{Total Assets} = 19,280 + 15,765 + 10,340 + 5,782 + 259,400 = 310,567
\]
2. Calculate the Total Liabilities:
- Liabilities include:
1. Car Loan: \$[/tex]20,821
2. Student Loans: \[tex]$25,876
3. Credit Card Balance: \$[/tex]15,900
- Sum of all liabilities:
[tex]\[
\text{Total Liabilities} = 20,821 + 25,876 + 15,900 = 62,597
\][/tex]
3. Calculate the Net Worth:
- Net Worth is determined by subtracting total liabilities from total assets:
[tex]\[
\text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} = 310,567 - 62,597 = 247,970
\][/tex]
Therefore, the lawyer's net worth is \[tex]$247,970.
The correct answer is:
\[
\$[/tex]247,970
\]
