Essay
Herman Gleep has built up total assets at the end of last year of $520,000. It consisted off a home valued at $350,000 and financial assets valued at $170,000. During this year his home appreciated by a -4% because of the contracting housing market, but his financial assets achieved a return of 6.5%. What is Herman's overall rate of return this year and what are his total assets worth?
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Home $350,000 X (1-.04) + Financial Asse...View Answer
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