Bao and Mary Jane Lee have a yearly income of $93 comma 842 and own a house worth $127 comma 900, two cars worth a total of $ 28 comma 195 and furniture worth $14 comma 085. The house has a mortgage of $85 comma 677 and they have a car loan with an outstanding balance of $5 comma 822. Utility bills, totaling $181 for this month, have not been paid. Calculate their net worth, and explain what it means.
Bao and Mary Jane Lee have a yearly income of $93 comma 842 and own a house worth $127 comma 900, two cars worth a total of $ 28 comma 195 and furniture worth $14 comma 085. The house has a mortgage of $85 comma 677 and they have a car loan with an outstanding balance of $5 comma 822. Utility bills, totaling $181 for this month, have not been paid. Calculate their net worth, and explain what it means.
Chapter3: Income Sources
Section: Chapter Questions
Problem 79P
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Bao and Mary Jane Lee have a yearly income of $93 comma 842 and own a house worth $127 comma 900, two cars worth a total of $ 28 comma 195 and furniture worth $14 comma 085. The house has a mortgage of $85 comma 677 and they have a car loan with an outstanding balance of $5 comma 822. Utility bills, totaling $181 for this month, have not been paid. Calculate their net worth, and explain what it means.
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