Scott's assets and liabilities are shown. Then he refinances his mortgage to reduce it by $50,000. He spends $2,500 of his savings to file the documents to refinance the
mortgage. What is Scott's net worth before and after he refinances his mortgage? By
how much does his net worth change?
Mortgage: $260,000
Value of electronics: $4,000
Value of home:
$310,000
Value of furniture:
$8.500
Savings account: $8.000
Value of music collection:
$9,000
Credit card balances:
$7.000
Student loan: $9,000
Value of car: $35.000