Question: I need help with this equation. Can you please do an Excel and show formulas Suppose there is an individual whose income was $150,000 for

I need help with this equation. Can you please do an Excel and show formulas

Suppose there is an individual whose income was $150,000 for the last three years. They reported a primary residence value of $1 million (with a mortgage of $200,000), a car worth $100,000 (with an outstanding loan of $50,000), a 401(k) account with $500,000, and a savings account with $450,000.

a) Apply the Gross Income test and Net Worth test.

b) Net Worth is calculated as Assets minus Liabilities.

c) Is this person an Accredited Investor?

d) Specifically define what qualifies a person to be an Accredited Investor.

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