Questions: Ella McDonald has determined that the value of her liquid assets is 4,500, the value of her real estate is 135,000, the value of her personal possessions is 58,000, and the value of her investment assets is 72,000. She has also determined the value of her current liabilities is 7,500 and the value of her long-term liabilities is 98,000. What is Ella's net worth? Multiple Choice 269,500 105,500 164,000 205,500 132,000

Ella McDonald has determined that the value of her liquid assets is 4,500, the value of her real estate is 135,000, the value of her personal possessions is 58,000, and the value of her investment assets is 72,000. She has also determined the value of her current liabilities is 7,500 and the value of her long-term liabilities is 98,000. What is Ella's net worth? Multiple Choice 269,500 105,500 164,000 205,500 132,000
Transcript text: Ella McDonald has determined that the value of her liquid assets is $\$ 4,500$, the value of her real estate is $\$ 135,000$, the value of her personal possessions is $\$ 58,000$, and the value of her investment assets is $\$ 72,000$. She has also determined the value of her current liabilities is $\$ 7,500$ and the value of her long-term liabilities is $\$ 98,000$. What is Ella's net worth? Multiple Choice \$269,500 $\$ 105,500$ $\$ 164,000$ $\$ 205,500$ $\$ 132,000$
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Solution

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Solution Steps

Step 1: Calculate Total Assets

To find Ella's total assets, we sum up the values of her liquid assets, real estate, personal possessions, and investment assets.

\[ \text{Total Assets} = \$4,500 + \$135,000 + \$58,000 + \$72,000 \]

\[ \text{Total Assets} = \$269,500 \]

Step 2: Calculate Total Liabilities

Next, we calculate Ella's total liabilities by adding her current liabilities and long-term liabilities.

\[ \text{Total Liabilities} = \$7,500 + \$98,000 \]

\[ \text{Total Liabilities} = \$105,500 \]

Step 3: Calculate Net Worth

Ella's net worth is determined by subtracting her total liabilities from her total assets.

\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} \]

\[ \text{Net Worth} = \$269,500 - \$105,500 \]

\[ \text{Net Worth} = \$164,000 \]

Final Answer

\[ \boxed{\$164,000} \]

The answer is \$164,000.

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