QUESTION 46

1. Leif is in his late 40's and has a solid career and good salary. He owns a home worth $200,000, but still has a 15-year mortgage balance of $63,000. Over the last 20 years, he has invested regularly each year by dollar cost averaging and putting $2,000 into a no load mutual fund. This fund has paid 10% annually over that time. He owns a car worth $17,000 and a fishing boat worth $12,000. His monthly expenses in his budget (for utilities, mortgage, interest, insurance and taxes) are $2,450. He has kept his other expenses low. Determine Leif's approximate Net Worth.

   DO NOT PLACE ANY SYMBOLS IN THE ANSWER FIELD ($, %,)