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Mike and Mary Jane Lee have a yearly income of $70,970 and own a house worth $99,500, two cars worth a total of $16,673 and
Mike and Mary Jane Lee have a yearly income of $70,970 and own a house worth $99,500, two cars worth a total of $16,673 and furniture worth $9,068. The house has a mortgage of $66,197 and the cars have outstanding loans of $2,175 each. Utility bills, totatling $144 for this month, have not been paid. Calculate or use Worksheet 4 to determine their net worth and explain what it means. How would the Lees' age affect your assessment of their net worth?
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