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
$188,450
$188,450
$134,950
$134,950
$241,950
$241,950
$53,500
To calculate the total value of the client's assets, you need to sum up the value of the house, car, savings, and retirement account.
Assets:
House worth $127,500
Car worth $5,500
Savings of $5,450
Retirement account worth $50,000
Total value of assets = $127,500 + $5,500 + $5,450 + $50,000 = $188,450
Therefore, the correct answer is:
$188,450