The following data pertains to the household of Mary and John at the end of the year:
Assets Liabilities
House $250,000 Mortgage loan $200,000
Stocks and bonds 40,000 Credit card debt 10,000
Money 2,000 Car loan 5,000
Furniture 5,000
Car 13,000
Savings account 5,000
Calculate the sum of real assets and financial assets and total assets of the household. Calculate the total liabilities and the net worth of the household.
