Answer :
To determine the total net worth of the credit union banker after paying off the student loans, let's follow these step-by-step instructions:
### Step 1: Identify Total Assets
Sum up all the assets listed:
- Car Value: \[tex]$29,850 - Savings Account Balance: \$[/tex]12,409
- Treasury Bonds: \[tex]$10,000 - Checking Account Balance: \$[/tex]19,419
- Home Value: \[tex]$194,450 We add these figures to get the total assets: \[ 29,850 + 12,409 + 10,000 + 19,419 + 194,450 = 266,128 \] Thus, the total assets amount to \$[/tex]266,128.
### Step 2: Identify Total Liabilities
Normally, all liabilities would be sum together, but since we are specifically instructed to pay off the student loans, we will exclude them and sum up only the remaining liabilities:
- Car Loan: \[tex]$10,560 - Credit Card Balance: \$[/tex]8,051
Summing these liabilities:
[tex]\[ 10,560 + 8,051 = 18,611 \][/tex]
Thus, the total liabilities after paying off the student loans amount to \[tex]$18,611. ### Step 3: Calculate Net Worth After Paying Off Student Loans Net worth is calculated by subtracting the total liabilities from the total assets: \[ 266,128 - 18,611 = 247,517 \] Therefore, the net worth after paying off the student loans is \$[/tex]247,517.
### Conclusion
After completing our calculation, we have two potential figures provided in the question, \[tex]$219,869 and \$[/tex]247,517. We found that the net worth after paying off the student loans is \[tex]$247,517. So, the correct value of the banker's total net worth after paying off the student loans is \$[/tex]247,517.
### Step 1: Identify Total Assets
Sum up all the assets listed:
- Car Value: \[tex]$29,850 - Savings Account Balance: \$[/tex]12,409
- Treasury Bonds: \[tex]$10,000 - Checking Account Balance: \$[/tex]19,419
- Home Value: \[tex]$194,450 We add these figures to get the total assets: \[ 29,850 + 12,409 + 10,000 + 19,419 + 194,450 = 266,128 \] Thus, the total assets amount to \$[/tex]266,128.
### Step 2: Identify Total Liabilities
Normally, all liabilities would be sum together, but since we are specifically instructed to pay off the student loans, we will exclude them and sum up only the remaining liabilities:
- Car Loan: \[tex]$10,560 - Credit Card Balance: \$[/tex]8,051
Summing these liabilities:
[tex]\[ 10,560 + 8,051 = 18,611 \][/tex]
Thus, the total liabilities after paying off the student loans amount to \[tex]$18,611. ### Step 3: Calculate Net Worth After Paying Off Student Loans Net worth is calculated by subtracting the total liabilities from the total assets: \[ 266,128 - 18,611 = 247,517 \] Therefore, the net worth after paying off the student loans is \$[/tex]247,517.
### Conclusion
After completing our calculation, we have two potential figures provided in the question, \[tex]$219,869 and \$[/tex]247,517. We found that the net worth after paying off the student loans is \[tex]$247,517. So, the correct value of the banker's total net worth after paying off the student loans is \$[/tex]247,517.
