Do the flemings have an adequate emergency fund? if no how, Ask an Expert

Finance

Calculating Net Worth

Net worth = Assets - Liabilities

Assets Liabilities

Value of house $190,000.00 Emloyment tax payable $870.00

Life Insurance $300,000.00 Car $16,500.00

Taxable interest earned $900.00 CC Balance $3,800.00

Capital gains $126.00

Checking $5,000.00

IRA $24,000.00

CD $18,000.00

Car $46,000.00

Savings $16,000.00

401(K) $18,000.00

Total Assets $618,026.00 Total Liabilities $21,170.00

Net Worth $596,856.00

Looking at the Fleming's balance sheet:

a. Do the Flemings have an adequate emergency fund?

b. If no, how much should they have set aside?

c. Why are they adequately protected or why do they need more set aside

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M949884

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