Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 7 O Mark this question Lucie has $6,000 in her savings account, $1,400 in her checking account, and $30,000 in a long- term investment

image text in transcribed
Question 7 O Mark this question Lucie has $6,000 in her savings account, $1,400 in her checking account, and $30,000 in a long- term investment such as a brokerage account. She owns a house worth $150,000 and cars that are valued at $25,000. She owes $4,000 in credit card debt and $120,000 as mortgage. Lucie has an outstanding payment of $60,000 on her student and car loans. She has a retirement plan worth $75,000 Using the given information, calculate Lucie's net worth, current ratio, and debt ratio. O Lucie has a net worth of -$103,400. Her current.ratio is 0.5 and her debt ratio is 156% Lucie has a net worth of -$106,600. Her current ratio is 9.35 and current ratio is 158%. O Lucie has a net worth of -$106,600. Her current ratio is 1.5 and debt ratio is 15% O Lucie has a net worth of $103,400. Her current ratio is 1.85 and debt ratio is 64%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commerce And Coalitions How Trade Affects Domestic Political Alignments

Authors: Ronald Rogowski

1st Edition

0691219435, 9780691219431

More Books

Students also viewed these Economics questions

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago

Question

A greater tendency to create winwin situations.

Answered: 1 week ago

Question

Improving creative problem-solving ability.

Answered: 1 week ago