Question 91302: This is my first time taking Algebra. I have a question which I could not understand. Could someone kindly help me to understand and to solve. I trid my best but could not come up with the correct answer. Thank you
Melani'e house worth $125,000, but she still owes $78,422 on her mortgage. She has $21,236 in a saving account and has $9477 in credit card debt. She owes $6131 to the credit union and her car worth $15000. What is Melani'w net worth?
Again Thank you kindly
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Melani'e house worth $125,000, but she still owes $78,422 on her mortgage.
She has $21,236 in a saving account and has $9477 in credit card debt.
She owes $6131 to the credit union and her car worth $15000.
What is Melani'w net worth?
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Assets: 125000+21236+15000 = 161236
Debts: 78422+9477+6131 = 94030
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Net Worth = 161236-94030 = $67,206
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Cheers,
Stan H.
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