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TaylorMccoyKo
TaylorMccoyKo TaylorMccoyKo
  • 11-01-2017
  • Mathematics
Answered

Alan owns a car valued at $21,760, and He owes $6502 on his auto loan. How much are the asset and liability values for Alan’s car?


assets $______


liabilities $______

Alan owns a car valued at 21,760, and He owes 6502 on his auto loan. How much are the asset and liability values for Alan s car? assets liabilities class=

Verified Answer :

MissPhiladelphia
MissPhiladelphia MissPhiladelphia
  • 18-01-2017

For the answer to the question above,
the value of Alan's car is $21,760. However, he owes $6502  on his loan.
The asset on his car is $21,760
The liability on his car is $6,502 
The net worth of the house is $15,528 (difference between assets and liabilities)

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