Question

Using the following information about the family's assets and liabilities, calculate the total assets:

• Checking account: $3,000
• Savings account: $13,000
• Credit card balance: $5,500
• Utility bill: $500
• Home: $320,000
• Mortgage (30 years): $210,000
• Car: $25,000
• Car loan (60 months): $18,000
• Student loan (7 years): $25,000
• Household items: $15,000
• Retirement account: $64,000
• Other assets: $39,000