The following information is provided for Yae-joon and Selah, ages 38 and 37, respectively: Assets Liabilities Checking account $1,900 Home mortgage balance $100,000 Money market
The following information is provided for Yae-joon and Selah, ages 38 and 37, respectively:
Assets | Liabilities | |||
|---|---|---|---|---|
Checking account | $1,900 | Home mortgage balance | $100,000 | |
| Money market mutual fund | $5,400 | Outstanding auto loans | $25,400 | |
| IRAs (1-year CD) | $4,600 | Credit card balances | $5,200 | |
| Section 401(k) plan (vested) | $170,000 | |||
| Mutual funds | $26,000 | |||
| Residence | $160,000 | |||
| Autos | $38,000 | |||
| Personal property | $50,000 | |||
| Other information | ||||
Yae-joon's gross salary | $56,000 | |||
| Selah's gross salary | $62,000 | |||
| Annual fixed expenses | $18,000 | |||
| Annual variable expenses | $42,900 |
Based on this information, what is the net worth of Yae-joon and Selah?
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Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
