Calculate the sum of real assets and financial assets

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Reference no: EM13247752

The following data pertains to the household of Mary and John at the end of the year:

Assets

Liabilities

House

$250,000

Mortgage loan

$200,000

Stocks and bonds

40,000

Credit card debt

10,000

Money

2,000

Car loan

5,000

Furniture

5,000

Car

13,000

Savings account

5,000

Calculate the sum of real assets and financial assets and total assets of the household.

Calculate the total liabilities and the net worth of the household.

Reference no: EM13247752

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