Jasmine Smith owns a condo worth $250,000,a car valued at $15,000,and miscellaneous assets worth $7,500.She owes $190,000 on the condo and $10,000 on the car and has no other debts.Her retirement account,in which she is fully vested,contains $28,000 in mutual funds.She was just insured with a $300,000 term life insurance policy.What are her total liabilities?
A) $200,000
B) $300,000
C) $100,000
D) $592,500
E) $600,000
Correct Answer:
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