At the start of the year, Koku has assets worth $700,000. He has debts worth $350,000. Over the year, he earns $200,000, of which he pays $50,000 in tax. He spends $50,000 on goods and services. He pays interest on his debts at 10% of $350,000. His assets go up in market value by $25,000.n
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What is his net worth at the end of the year?

Answer rating: 100% (QA)

His net worth at the end of the year would be 825000 700000 200000 50000 35000001 ... View the full answer