asked 232k views
0 votes
Cesar is 35 years old. He has $370 in a checking account$2900 in a savings account$13,000 in a retirement account, and owns a car worth $5900. What is the total value of his liquid assets?

A.$ 3270
B.$2900
C. $18,900
D.$22,170

asked
User Rozana
by
7.9k points

2 Answers

3 votes

Answer:

A. $3770

Explanation:

The correct answer must be $3770 (not $3270), checking accounts and savings accounts are liquid assets. However, cars are not liquid assets because liquid assets are things that can be quickly turned into cash without losing much if any of their inherent value. In this case, the retirement account is not a liquid asset as it is designed to hold your money until retirement age, and given that Cesar is 35 years old so he has not reached retirement age.

answered
User Eldoctoro
by
8.3k points
4 votes

Answer:

$3270

Explanation:

answered
User Emnoor
by
8.3k points
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