Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. What is Keisha's net worth?

Question

Mathematics

Elena Browning

20 January, 11:10

Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. What is Keisha's net worth?

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Answers (1)

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Jaxon Weaver · Answer 1

Assets=liability+owner's equity

(275000+12000+3000+2700) = (195000+7500+1500) + owners equity

Owner's equity=assets-liability

Owner's equity=292,700-204,000

Owner's equity=88,700