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Please show work for me ! [10 points] Suppose that you: a. Own a house, which is currently worth $100,000; b. Have a $5,000 credit
Please show work for me !
[10 points] Suppose that you: a. Own a house, which is currently worth $100,000; b. Have a $5,000 credit card debt outstanding; c. Have $5,000 balance in your bank accounts; d. Have $15,000 in your retirement accounts (e.g., 401(k) plan, IRA); e. Owe $80,000 to the bank on your home mortgage loan; f. Own a car worth $10,000; g. Have an outstanding balance on car loan of $2,000; h. Have a $15,000 balance due on your student loan. i. In addition, your monthly spending on necessities (food, housing, etc.) is approximately $3,000. Your monthly disposable income is $5,800. Your monthly average interest payments on all debts amount to $450 Question: What is your net worth, at market valueStep by Step Solution
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