Alex (age 36) and Maria (age 38) have been married for 12 years, and they have three children, Jose (age 10), Anna, (age 12) and Caridad (age 14). The Smiths live at 5389 East Red Hawk Drive, Jacksonville, Florida. Alex currently works as an assistant manager at a department store, where his salary last year was $65,300. Maria Solution Finacial position as, Net worth= Total Assets-total liabilties =$442000-360000 =$82000 .

1. Alex (age 36) and Maria (age 38) have been married for 12 years, and they have three children,
Jose (age 10), Anna, (age 12) and Caridad (age 14). The Smiths live at 5389 East Red Hawk
Drive, Jacksonville, Florida. Alex currently works as an assistant manager at a department store,
where his salary last year was $65,300. Maria
Solution
Finacial position as,
Net worth= Total Assets-total liabilties
=$442000-360000
=$82000
Assets Liabilities
House $350000
House loan outstanding 300000
Savings in Joint A/c 3000
Personal Property 45000
Inherited Antiques 23000
Car 8000
Balance on car 15000
Mini Van 13000
Balance to be paid on Mini van 20000
IRA Roll over 25000
Credit Cards 20000
Total 442000 360000