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1. Roland owns a mobile home that is worth [tex]$70,000 and a car that's worth $[/tex]9,000. He has [tex]$400 in cash, $[/tex]9,000 in his bank accounts, and [tex]$45,000 in his retirement accounts. The mobile home and car are paid-off.
2. Jeff owns a $[/tex]1,000,000 house and owns two cars worth [tex][tex]$45,000 each and a motorcycle worth $[/tex][/tex]10,000. He owes [tex]$990,000 on the
house, $[/tex]87,000 (total) on the cars, and [tex]$7,000 on the motorcycle. Jeff has $[/tex]470 in cash, [tex][tex]$10,000 in his bank accounts, and $[/tex][/tex]20,000 in retirement accounts. Explain whether Roland or Jeff has the higher net worth. SUBMIT
Sagot :
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