Taylor has the following assets and liabilities: Two cars $15,000 House $400,000 Mortgage $300,000 Cash $1,000 Car loans $5,000 Checking account balance $3,000 Credit card balance $3,000 What is Taylor's wealth

Taylor'S Wealth=$111,000

Explanation:

Wealth  Is referred to as Net worth and is  defined as

Wealth ( Net worth ) =  Asset - Liability ( Debt)

Taylor'S ASSETS

House= $400,000

Two Cars: $15,000

Cash: $1,000

Checking account balance $3,000  

Total assets=$419,000

Taylor'S DEBTS /LIABILITY

Credit cards: $3,000

Car loans: $5,000

Mortgage: $300,000

Total debts ( Liability ) =$308,000

Taylor'S Wealth ( Net worth ) =  Asset - Liability

 $419,000- $308,000= $111,000

its high unemployment figures

i just had a test with that question

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.