keisha owns a house worth $275,000 with a mortgage of $195,000. she owns a car worth $12,000 and has $7,500…

keisha owns a house worth $275,000 with a mortgage of $195,000. she owns a car worth $12,000 and has $7,500 in car loans. she has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. what is keishas net worth?\n$88,700\n$91,700\n$292,700\n$496,700

keisha owns a house worth $275,000 with a mortgage of $195,000. she owns a car worth $12,000 and has $7,500 in car loans. she has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. what is keishas net worth?\n$88,700\n$91,700\n$292,700\n$496,700

Answer

Explanation:

Step1: Calculate total assets

Total assets = House value + Car value + Investments + Bank - account balance Total assets = $275000+ 12000+3000 + 2700=$292700$

Step2: Calculate total liabilities

Total liabilities = Mortgage + Car - loan + Credit - card debt Total liabilities = $195000+7500 + 1500=$204000$

Step3: Calculate net - worth

Net - worth = Total assets−Total liabilities Net - worth = $292700−204000=$88700$

Answer:

$88,700$