Ryan and Nicole would like to trade in one of their cars with a fair market value of $ 7,000 for a new one with a fair market value of $ 21,500 The dealer will take their car and provide a $ 15,000 loan for the new car If they make this deal, what will be the effect on their net worth ...

Their net worth would decre ...

Ryan and Nicole would like to trade in one of their cars with a fair market value

Question:

Ryan and Nicole would like to trade in one of their cars with a fair market value of $ 7,000 for a new one with a fair market value of $ 21,500. The will take their car and provide a $ 15,000 loan for the new car. If they make this deal, what will be the effect on their net worth?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...