Maudie and Eric just had their fourth child, and their sedan…
Maudie and Eric just had their fourth child, and their sedan is now too small for their family. When applying for a car loan on a minivan, they are asked to present a net worth statement. Use the following information to help them calculate their net worth. They own a 1999 Mercury Sable that has a Kelly Blue Book value of $2,000. They also own a home that is worth $150,000. Their remaining home mortgage balance is $105,000. They have $10,000 in student loan debt. The balance of their checking account is $1,231.44, and their savings account balance is $3,987.32. What is their current net worth?