The following data pertains to the household of Mary and John at the end of the year:?

Assets Liabilities

House $250,000 Mortgage loan $200,000

Stocks and bonds 40,000 Credit card debt 10,000

Money 2,000 Car loan 5,000

Furniture 5,000

Car 13,000

Savings account 5,000

Calculate the sum of real assets and financial assets and total assets of the household.

Calculate the total liabilities and the net worth of the household.

1 Answer

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  • Mr P
    Lv 4
    1 decade ago
    Favorite Answer

    House plus furniture plus car = real assets = $268,000.

    Stocks and bonds plus cash plus money plus savings account = $47,000.

    Total assets = $268,000 + $47,000 = $315,000.

    Total liabilities = $215,000 (mortgage + cc debt + car loan)

    Net worth = $315,000 - $215,000 = $100,000.

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