Find solutions to your problems with the help of IDNLearn.com's knowledgeable users. Ask any question and get a thorough, accurate answer from our community of experienced professionals.
Sagot :
To determine the banker’s net worth after paying off the student loans, we must follow a step-by-step process to account for all assets and liabilities correctly.
### Step 1: Recall the list of assets and liabilities
#### Assets:
- Car Value: \[tex]$29,850 - Savings Account Balance: \$[/tex]12,409
- Treasury Bonds: \[tex]$10,000 - Checking Account Balance: \$[/tex]19,419
- Home Value: \[tex]$194,450 #### Liabilities: - Car Loan: \$[/tex]10,560
- Student Loans: \[tex]$13,824 (to be paid off) - Credit Card Balance: \$[/tex]8,051
### Step 2: Calculate Total Assets
Sum up all the assets:
[tex]\[ \text{Total Assets} = 29,850 + 12,409 + 10,000 + 19,419 + 194,450 = 266,128 \][/tex]
### Step 3: Calculate Total Liabilities
Sum up all the liabilities but omit the student loan as it will be paid off:
[tex]\[ \text{Total Liabilities} = 10,560 + 8,051 = 18,611 \][/tex]
### Step 4: Calculate Net Worth
Subtract the total liabilities from the total assets to get the net worth after paying off the student loans:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} = 266,128 - 18,611 = 247,517 \][/tex]
So, the banker's net worth after paying off the student loans is:
[tex]\[ \$247,517 \][/tex]
### Answer
Therefore, the correct option for the total net worth is:
[tex]\[ \$247,517 \][/tex]
### Step 1: Recall the list of assets and liabilities
#### Assets:
- Car Value: \[tex]$29,850 - Savings Account Balance: \$[/tex]12,409
- Treasury Bonds: \[tex]$10,000 - Checking Account Balance: \$[/tex]19,419
- Home Value: \[tex]$194,450 #### Liabilities: - Car Loan: \$[/tex]10,560
- Student Loans: \[tex]$13,824 (to be paid off) - Credit Card Balance: \$[/tex]8,051
### Step 2: Calculate Total Assets
Sum up all the assets:
[tex]\[ \text{Total Assets} = 29,850 + 12,409 + 10,000 + 19,419 + 194,450 = 266,128 \][/tex]
### Step 3: Calculate Total Liabilities
Sum up all the liabilities but omit the student loan as it will be paid off:
[tex]\[ \text{Total Liabilities} = 10,560 + 8,051 = 18,611 \][/tex]
### Step 4: Calculate Net Worth
Subtract the total liabilities from the total assets to get the net worth after paying off the student loans:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} = 266,128 - 18,611 = 247,517 \][/tex]
So, the banker's net worth after paying off the student loans is:
[tex]\[ \$247,517 \][/tex]
### Answer
Therefore, the correct option for the total net worth is:
[tex]\[ \$247,517 \][/tex]
We appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. IDNLearn.com has the solutions you’re looking for. Thanks for visiting, and see you next time for more reliable information.