Assignment:
Melanies' house is worth $125,000, but she still owes $78,422 on her mortgage. She has $21,236 in a savings account and has $9477 in credit card debt. She owes $6131 to the credit union and figures that her cars and other household items are worth a total of $15,000. What is Melanies' net worth.
Provide complete and step by step solution for the question and show calculations and use formulas.