You have a house worth $227,500, a car worth $25,500, a savings of $15,450, and a retirement account worth $250,000. You also have a car loan for $20,000, a credit card balance of $19,500, a personal loan of $7,500, and a mortgage of $150,000. Creating an assets and liabilities record, what is the total of your liabilities?(1 point)
$518450
$715450
$197000
$321450
The liabilities total would be $20,000 + $19,500 + $7,500 + $150,000, which equals $197,000.
Therefore, the correct answer is $197,000.