Your client has a house worth $127,500, a car worth $5,500, a savings of $5,450, and a retirement account worth $50,000. They also have a car loan for $2,000, a credit card balance of $1,500, and a mortgage of $50,000. Creating an assets and liabilities record, what is the total value of your client’s assets?(1 point) Responses $53,500 $53,500 $134,950 $134,950 $188,450 $188,450 $241,950
1 answer
To calculate the total value of your client’s assets, add up the value of all their assets:
Now, let's add these amounts together:
\[ 127,500 + 5,500 + 5,450 + 50,000 = 188,450 \]
Therefore, the total value of your client’s assets is $188,450.
