1. Calculating Net Worth. Shelly's assets include money in checking and savings accounts, investments in stocks and mutual funds, and personal property, including furniture, appliances, an automobile, a coin collection, and jewelry. Shelly calcu- lates that her total assets are S108,800. Her current unpaid bills, including an auto loan, credit card balances, and taxes total $16,300. Calculate Shelly's net worth. 2. Calculating Net Worth Ted owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth 590,000. He still owes $25,000 on his car and $150,000 on his home, and he has a balance on his credit card of S1,600 What is Ted's net worth? 3. Calculating the Amount Spent on Housing. Calculate approximately how much money an older (age 65-74) household with an annual income of $45,000 spends on housing each year. (Hint: Use Exhibit 18-4) 4. Calculating the Amount Spent on Health Care. Using Exhibit 18-4, calculate approximately how much money the household from problem 3 spends on health care. 5. Calculating an IRA Accumulation. When Jamal graduated from college recently, his parents gave him $1,000 and told him to use it wisely. Jamal decided to use the money to start a retirement account. After doing some research about different options, he put the entire amount into a tax-deferred IRA that pays 11 percent interest, compounded annually. Calculate how much money Jamal will have in his IRA at the end of 10 years, assuming that the interest rate remains the same and that he does not deposit any additional money. Show your calculations in the form of a chart