Terry Kelly was discussing her checking and savings accounts with her bank officer when the officer suggested

Question:

Terry Kelly was discussing her checking and savings accounts with her bank officer when the officer suggested that she talk with the bank's investment counselor. Terry was advised by the investment counselor to calculate her current net worth and to project her 2014 net worth to determine if her 2014 projections would accomplish her objective of increasing her net worth. She listed the following assets and liabilities for 2013. To calculate her net worth, she found the difference between total assets and total liabilities.
Terry's home appreciated (increased) in value by 0.04 times the 2013 value while her car depreciated (decreased) in value by 0.125 times the 2013 value. Her car loan decreased $2,100 while her home mortgage balance decreased by $887. Terry plans to pay her personal loan in full by the end of 2014. Of her $2,000 planned investment, she will place SI.000 in savings and $1,000 in and bonds. She also plans to reinvest the interest income of $141 (in savings) and the income of $364 (in and bonds) earned [in 2013. She projects her checking account balance will be $1,500 at yearend for 2014.
Calculate Terry's total assets and total liabilities for 2013. Then calculate her net worth for 2013. Use the information given to project Terry's assets and liabilities for 2014. Then project her 2014 net worth. How much does Terry expect her net worth to increase (or decrease) from 2013 to 2014?
Assets:
Checking Account........................2,099
Savings account...........................2,821
Auto........................................10,500
Home and furnishings....................65,000
Stocks and bonds.........................4,017
Other personal property..................3,200
Total assets
Liabilities:
Car loan.....................................8,752
Home mortgage...........................54,879
Personal loan...............................1,791
Total liabilities Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...