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How would the lees age affect your assessment

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Mike and Mary Jane Lee have a yearly income of $65,000 and own a house worth $90,000, two cars worth a total of $20,000, and furniture worth $10,000. The house has a mortgage of $50,000 and the cars have outstanding loans of $2,000 each. Utility bills, totaling $150 for this month, have not been paid. Calculate or use Worksheet 4 to determine their net worth and explain what it means. 

1. How would the Lees' age affect your assessment of their net worth? 

Reference no: EM13971244

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