Which event will have the greatest impact (positive or negative) on one's net worth? Finance a used car at market value for $16,000 Buy a new car at market value for $15,000. Car depreciates 20% upon transfer of ownership. Go on a vacation that costs $1,500 Inherit $2,000 from a relative Pay off $4,000 of school loans with cash
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Buying a used for $16000.
Reason
The car depreciates at 20% meaning it will reduce the value of the assets.
As the assets reduce in value, the value of liabilities increase since the buying price of the car is impact.
The buying of a used car will thus have the greatest negative impact on the Net worth
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