Jane has liquid financial assets of $25,000, real estate assets of $125,000, credit card debt of $1,000, and an $89,000 mortgage. Calculate her net worth.

Question

Quizplus · Accepted Answer

Net worth is calculated by subtracting total liabilities from total assets. Jane's total assets are $25,000 (liquid) + $125,000 (real estate) = $150,000. Her total liabilities are $1,000 (credit card debt) + $89,000 (mortgage) = $90,000. Therefore, her net worth is $150,000 - $90,000 = $60,000.

Jane Has Liquid Financial Assets of $25,000, Real Estate Assets