Add all the values together with the automobile value as x. We have:
103000+900-4300-16400+5600+5200+x=108000
94000+x=108000
x=14000
So, the value of Meghan's automobile is $14000.
Answer:
To find the current value of Meghan's automobile, we need to calculate her net worth using the given assets and liabilities and then solve for the automobile's value.
Meghan's net worth is calculated as the sum of all her assets minus the sum of all her liabilities. According to the information given:
- House (current value): $103,000
- Checking account: $900
- Credit-card debt: -$4,300
- Student loans: -$16,400
- Investments: $5,600
- Savings account: $1,200
- Meghan’s net worth: $101,800
Let's denote the value of the automobile as [tex]\(A\)[/tex]. Therefore, Meghan's net worth can also be represented by the formula:
[tex]\[\text{Net Worth} = \text{House} + \text{Checking account} + \text{Investments} + \text{Savings account} + A - (\text{Credit-card debt} + \text{Student loans})\][/tex]
We can plug in the values to solve for [tex]\(A\)[/tex]):
[tex]\[101,800 = 103,000 + 900 + 5,600 + 1,200 + A - (-4,300 - 16,400)\][/tex]
Let's calculate \(A\).
The current value of Meghan's automobile is $11,800.
Step-by-step explanation:
