Question

Maria has liquid financial assets of $32,000, real estate assets of $135,500, credit card debt of $4,500, and an $92,500 mortgage. Calculate her net worth.

Answer 1

To calculate Maria's net worth, subtract her liabilities ($97,000) from her assets ($167,500), resulting in a net worth of $70,500.

Step-by-step explanation:

To calculate Maria's net worth, we need to subtract her liabilities from her assets. Her liquid financial assets ($32,000) and real estate assets ($135,500) are both included in her assets.

Adding them together, we have $32,000 + $135,500 = $167,500 in assets.

Her credit card debt ($4,500) and mortgage ($92,500) are included in her liabilities. Adding them together, we have $4,500 + $92,500 = $97,000 in liabilities.

Now, to calculate her net worth, we subtract her liabilities from her assets:

$167,500 - $97,000 = $70,500.

Therefore, Maria's net worth is $70,500.

Learn more about Calculating net worth