To calculate the Jeffersons' net equity in their house, we subtract the total liens and selling expenses from the market value of their house: Net Equity in House = Market Value - Total Liens - Selling Expenses = $600,000 - $200,000 - $60,000 = $340,000 So, the Jeffersons' net equity in their house is $340,000. To calculate the Jeffersons' net worth, we sum up the value of all their assets and then subtract their liabilities: Total Assets: 1. Savings and retirement accounts: $150,000 2. Automobiles: $50,000 3. Stocks: $20,000 Total Liabilities: 1. Automobile loan: $15,000 2. Student loans: $25,000 Total Assets = $150,000 $50,000 $20,000 = $220,000 Total Liabilities = $15,000 $25,000 = $40,000 Net Worth = Total Assets - Total Liabilities = $220,000 - $40,000 = $180,000 So, the Jeffersons' net worth is $180,000.

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