Ted Riley owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth $90,000. He still owes $25,000 on his car and $150,000 on his home, and he has a balance on his credit card of $1,600. What is Ted's net worth?

Question

Jamie Gomez

Business

16 January, 14:35

Ted Riley owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth $90,000. He still owes $25,000 on his car and $150,000 on his home, and he has a balance on his credit card of $1,600. What is Ted's net worth?

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Answers (1)

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Karley · Answer 1

Ted's net worth: 341,100

Explanation:

Lexus 40,000 Home 275,000 Checking account 800 Savings account 1,900 Mutual fund 110,000 Personal assets 90,000

Total Assets: 517,700

Car debt 25,000 Home debt 150,000 Credit card 1.600

Total Liabilities: 176,600

Net Worth: 341,100