we compiled a summary of our financial situation before coming here. let me just take it out. jamie lee…

we compiled a summary of our financial situation before coming here. let me just take it out. jamie lee takes out a summary of their finances from her purse. randi the realtor: excellent. looks like you have been prudent with your finances and have saved money for a down payment. how much can jamie lee and ross put down towards a down payment? our assets: -checking account: $4,275 -savings account: $54,600 -emergency fund savings account: $24,575 -ira balance: $24,575 -cars: $11,850 + $22,750 our incomes: -jamie lee: $55,500 gross income ($41,625 net income after tax) -ross: $80,000 gross income ($60,000 net income after tax) our monthly expenses: -utilities: $200 -food: $525 -gas/maintenance: $275 -credit card payment: $0 -car loan payment: $575 -entertainment: $300 we dont have any student loan or credit card balances. but we do have car loans that a

we compiled a summary of our financial situation before coming here. let me just take it out. jamie lee takes out a summary of their finances from her purse. randi the realtor: excellent. looks like you have been prudent with your finances and have saved money for a down payment. how much can jamie lee and ross put down towards a down payment? our assets: -checking account: $4,275 -savings account: $54,600 -emergency fund savings account: $24,575 -ira balance: $24,575 -cars: $11,850 + $22,750 our incomes: -jamie lee: $55,500 gross income ($41,625 net income after tax) -ross: $80,000 gross income ($60,000 net income after tax) our monthly expenses: -utilities: $200 -food: $525 -gas/maintenance: $275 -credit card payment: $0 -car loan payment: $575 -entertainment: $300 we dont have any student loan or credit card balances. but we do have car loans that a

Answer

Explanation:

Step1: Identify relevant assets

We consider liquid - like assets that can be easily used for down - payment. Checking account ($4,275), savings account ($54,600), emergency fund savings account ($24,575), IRA balance ($24,575). Cars are not typically considered liquid for down - payment purposes.

Step2: Calculate total

$4275 + 54600+24575 + 24575=108025$ (However, IRA withdrawals for non - first - time homebuyer may have penalties. Assuming no penalties for simplicity). But if we only consider non - IRA liquid assets: $4275+54600 + 24575=83450$. If we assume only the savings account as the most straightforward down - payment source from the given options, the answer based on the options and typical down - payment asset consideration is calculated as follows. We sum up the most likely liquid assets for down - payment: checking account, savings account and emergency fund savings account. $4275+54600 + 24575=83450$. But if we consider only the savings account amount as a common choice for simplicity among the given options, the amount is $54600$.

Answer:

$54,600$