Question

Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $650 and her savings account is worth $1,700. She owns her own home that has a market value of $109,000. She has furniture and appliances worth $10,000 and a home computer and laptop worth $3,300. She has a car worth $13,000. She has recently purchased an annuity worth $5,400 and she has a retirement account worth $39,000 What is the value of her liquid assets? Multiple Choice Ο 52350 Ο 5182.050 Ο $44,400 Ο 5109,000 Ο Ο 5ιτοο

Answer 1

Liquid assets means an asset which can easily sell or convert into cash without any loss.

Liquid assets = Checking account worth + Savings account worth

Liquid assets = $650+$1700 =$2350

Therefore liquid assets =$2,350