Question
A family owns a home valued, as of Oct. 10, 2022, $750,000. The home was purchased by borrowing from a mortgage company and the amount
A family owns a home valued, as of Oct. 10, 2022, $750,000. The home was purchased by borrowing from a mortgage company and the amount of loan outstanding is $400,000. The family also has a $30,000 car loan. The value of their car is estimated about $58,000. As of Oct. 10, 2022, the balance of family's checking account is $8,500. The content of their house { furniture, appliances, electronic goods,...} is estimated to worth $90,000. The family's unpaid balance on their credit cards for September is $6,200. The family's student loan balance is $30,000. The family saving account balance is $70,000. Prepare this family's balance sheet and determine its net-worth.
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