Patricia McDonald has determined the following information about her own financial situation.Her checking account is worth $850 and her savings account is worth $1,200.She owns her own home that has a market value of $98,000.She has furniture and appliances worth $12,000 and a home computer and laptop worth $3,300.She has a car worth $12,500 and owes $7,800 on her auto loan.She has also purchased some stock worth $5,500 and she has a retirement account worth $38,550.What is the total value of her assets?
A)$2,050
B)$98,000
C)$27,800
D)$44,050
E)$171,900

Question

Quizplus · Accepted Answer

To find the total value of her assets, we need to add up all the values she has listed:

Checking account: $850
Savings account: $1,200
Home value: $98,000
Furniture/appliances: $12,000
Computer/laptop: $3,300
Car: $12,500
Stock: $5,500
Retirement account: $38,550

Total value of assets = $850 + $1,200 + $98,000 + $12,000 + $3,300 + $12,500 + $5,500 + $38,550 = $171,900

Therefore, the best choice is E.

Patricia McDonald Has Determined the Following Information About Her Own