Question

Ben owns a townhome valued at $195,000, but still owes $120,000 on the loan. Ben has $5,000 in savings and a balance of

$1,400 on his credit cards. There is a balance of $20,000 owed on Ben's car which is valued at $38,000. What is Ben's net

worth?

a $96,600

b. $97,600

CS99 400

d. $106,600

Answer 1

Answer:

The correct answer is C= $99.400

Step-by-step explanation:

You need to sum all he has and then rest all he owes

The car has a balance of 20000 owed so 38000-20000=$18000 to sum

%195000+$5000+$1400+$180000=$219400

Then you rest what he owes= $219400-$120000=$99400

Thats Ben's net worth

The Answer is C=$99400

The car has a balance of 20000 owed so 38000-20000=$18000 to sum

Answer 2

Answer:

A) 96,600

Step-by-step explanation:

"Balance of $1,400 on his credit cards" refers to a debt of $1,400, meaning you need to subtract it from his savings

Credit card: $5,000 - $1,400 = $3,600

Home: $195,000 - $120,000 = $75,000

Car: $38,000 - $20,000 = $18,000

Net: $3,600 + $75,000 + $18,000 = $96,600