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Impact on Net Worth. Ryan and Nicole would like to trade in one of their cars with a fair market value of $ 7 ,

Impact on Net Worth. 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?

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