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Question 8 (Multiple Choice Worth 4 points)
(Calculating Net Worth LC)

The assets and liabilities of a doctor are listed below.
\begin{tabular}{|c|l|}
\hline Home Value & [tex]$\$[/tex] 475,732[tex]$ \\
\hline Mortgage & $[/tex]\[tex]$ 105,678$[/tex] \\
\hline Credit Card Balance & [tex]$\$[/tex] 7,264[tex]$ \\
\hline Owned Work Equipment & $[/tex]\[tex]$ 45,798$[/tex] \\
\hline Car Value & [tex]$\$[/tex] 50,761[tex]$ \\
\hline Investments & $[/tex]\[tex]$ 75,283$[/tex] \\
\hline Personal Loan & [tex]$\$[/tex] 32,187[tex]$ \\
\hline
\end{tabular}

What is the total value of the doctor's capital assets?

A. $[/tex]\[tex]$ 45,798$[/tex]
B. [tex]$\$[/tex] 50,761[tex]$
C. $[/tex]\[tex]$ 572,291$[/tex]
D. [tex]$\$[/tex] 647,574$



Answer :

GinnyAnswer
First, let's list all the assets and liabilities provided:

Assets:
1. Home Value: \[tex]$475,732 2. Owned Work Equipment: \$[/tex]45,798
3. Car Value: \[tex]$50,761 4. Investments: \$[/tex]75,283

Liabilities:
1. Mortgage: \[tex]$105,678 2. Credit Card Balance: \$[/tex]7,264
3. Personal Loan: \[tex]$32,187 To find the total value of the doctor's capital assets, we need to sum up all the individual asset values: 1. Home Value: \$[/tex]475,732
2. Owned Work Equipment: \[tex]$45,798 3. Car Value: \$[/tex]50,761
4. Investments: \[tex]$75,283 Now, let's add these values together: \[ 475,732 + 45,798 + 50,761 + 75,283 = 647,574 \] So, the total value of the doctor's capital assets is \$[/tex]647,574.

Therefore, the correct answer is:
[tex]\[ \$ 647,574 \][/tex]