John's house is worth 180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth?
A. Jon's house is considered a liability only because he still owes money on it.
B. Jon has an $180,000 asset and a $142,500 liability.
C. Jon has a $142,500 asset and an $180,000 liability.
D. Jon's house is considered an asset only because it is worth more than he owes.
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “John's house is worth 180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth? A. Jon's house is ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
3 000 000 000+200 000 000+600 000+20 000+9
Answers (2)
Scott needs to memorize words on a vocabulary list for German class. He has six words to memorize and he is 2/3 done. How many words has Scott memorize so far?
Answers (1)
What is 2/9 : 9 for mathematics
Answers (1)
Estimate than use the break apart strategy for 495+254
Answers (1)
A book vendor is trying to sell his booking collection. One customer buys 1/4 of his books, another buys 1/3 of his books, and a third buys 1/6 of his books. If the vendor is left with 15 books, how many did he start out with?
Answers (2)
New Questions in Mathematics
A quantity, y, varies directly as x. When y = 9, x = 4. Find y when x = 10
Answers (1)
A drawer contains 9 black socks, 8 gray socks, and 7 blue socks. Without looking, you draw out a sock and then draw out a second sock without returning the first sock. What is the probability that the two socks you draw are the same color?
Answers (1)
All possible random samples of 200 middle managers are selected from a population for a study concerning their mean annual income. The population standard deviation is computed to be $2,248.5.
Answers (1)
Find the length of the hypotenuse of a right angle if a = 6 and b = 10
Answers (2)
3. Sandy bought 9 animal pencils that cost 8C each. How much money did she spend?
Answers (2)