Question

Brent is retired and owns a home. Below is a summary of his current assets and liabilities:
assets
Home: $220,000
Car: $12,250
Cash and Checking: 6,000
Savings: 115,000
Mortgage balance: 65,000
Combined credit card debt: 3,500
Last year Brent’s net worth was $281,000. What is the percent of increase or decrease in his net worth from last year to this year?

1.33 % decrease

1.33% increase

11.3% decrease

11.3% increase

Answer 1

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