Susan Taylor has determined that the value of her liquid assets is $4,500, the value of her real estate is $135,000, the value of her personal possessions is $58,000, and the value of her investment assets is $72,000. She has also determined the value of her current liabilities is $7,500 and the value of her long-term liabilities is $98,000. What is Susan’s net worth?
Group of answer choices
$269,500
$105,500
$164,000
205,500
$132,000
Susan Taylor’s net worth can be calculated by subtracting her total liabilities from her total assets. Let’s break down the values provided:
Liquid assets: $4,500
Real estate: $135,000
Personal possessions: $58,000
Investment assets: $72,000
Now, let’s calculate Susan’s total assets:
Total assets = Liquid assets + Real estate + Personal possessions + Investment assets
Total assets = $4,500 + $135,000 + $58,000 + $72,000
Total assets = $269,500
Next, we have to consider her liabilities:
Current liabilities: $7,500
Long-term liabilities: $98,000
Now, let’s calculate Susan’s total liabilities:
Total liabilities = Current liabilities + Long-term liabilities
Total liabilities = $7,500 + $98,000
Total liabilities = $105,500
To find Susan’s net worth, we subtract her total liabilities from her total assets:
Net worth = Total assets – Total liabilities
Net worth = $269,500 – $105,500
Net worth = $164,000
So, Susan Taylor’s net worth is $164,000.
In summary, Susan’s net worth is $164,000, calculated by subtracting her total liabilities of $105,500 from her total assets of $269,500.
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