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Current Financial Information They own their home which they purchased two years ago for $285,000. Their town (Rumford, Rhode Island) tax office has assessed the home value at $200,000. Recently, Mary hired a certified real estate appraiser to prepare a home appraisal and his appraised value was $300,000 (the real estate appraiser based her opinion of value on recent sales of comparable homes in similar neighborhoods and considered current construction costs and land value.) While surfing the web, Mary noticed that their home is listed on Zillow.com with a "Zestimate of $350,000. Zestimates are powered by an algorithm. Mary knows that the variables of the valuation system, including analysis of home exterior and interior and traditional real estate facts and figures images, can be inaccurate and may need updating, however Mary logs into Zillow often to see how the system is valuing one of the families largest and most important asset. The mortgage on the home has a balance of $140,000. A review of the Douglas' financial information, bank statements, and other documents shows the following as of Dec. 31, 2022: . 2015 Camry worth about $11,000 (Kelly Blue Book), with a bank loan balance of $3,000 2014 Volvo 560 purchased six months ago for $14,500 is worth about $15,000 (Kelly Blue Book), with a bank loan balance of $10,000 An insurance policy on Jeff's life with a face value of $100,000 with a cash surrender value of $2,500 and no policy loan balance. Mary is the beneficiary listed on Jeff's policy. An insurance policy on Mary's life with a face value of $10,000 and no cash surrender value. Jeff is the beneficiary listed on Mary's policy. Credit card balances that total $3,500. A savings account with a $1,000 balance. Two mutual funds earmarked for the children's college education. The account for Paul has a balance of $10,000 and Marcy's has $11,000 as a current balance. The fund has averaged an 8% annual rate of return over its life. 100 shares of Apple Inc. (NASDAQ: stock symbol- AAPL), formerly Apple Computer, Inc. You need to value this stock and all the stocks they own based on the Dec. 31, 2022 price per share. You will need to find that on the Internet. The cost basis is $120 per share. Current Financial Information They own their home which they purchased two years ago for $285,000. Their town (Rumford, Rhode Island) tax office has assessed the home value at $200,000. Recently, Mary hired a certified real estate appraiser to prepare a home appraisal and his appraised value was $300,000 (the real estate appraiser based her opinion of value on recent sales of comparable homes in similar neighborhoods and considered current construction costs and land value.) While surfing the web, Mary noticed that their home is listed on Zillow.com with a "Zestimate of $350,000. Zestimates are powered by an algorithm. Mary knows that the variables of the valuation system, including analysis of home exterior and interior and traditional real estate facts and figures images, can be inaccurate and may need updating, however Mary logs into Zillow often to see how the system is valuing one of the families largest and most important asset. The mortgage on the home has a balance of $140,000. A review of the Douglas' financial information, bank statements, and other documents shows the following as of Dec. 31, 2022: . 2015 Camry worth about $11,000 (Kelly Blue Book), with a bank loan balance of $3,000 2014 Volvo 560 purchased six months ago for $14,500 is worth about $15,000 (Kelly Blue Book), with a bank loan balance of $10,000 An insurance policy on Jeff's life with a face value of $100,000 with a cash surrender value of $2,500 and no policy loan balance. Mary is the beneficiary listed on Jeff's policy. An insurance policy on Mary's life with a face value of $10,000 and no cash surrender value. Jeff is the beneficiary listed on Mary's policy. Credit card balances that total $3,500. A savings account with a $1,000 balance. Two mutual funds earmarked for the children's college education. The account for Paul has a balance of $10,000 and Marcy's has $11,000 as a current balance. The fund has averaged an 8% annual rate of return over its life. 100 shares of Apple Inc. (NASDAQ: stock symbol- AAPL), formerly Apple Computer, Inc. You need to value this stock and all the stocks they own based on the Dec. 31, 2022 price per share. You will need to find that on the Internet. The cost basis is $120 per share.
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