Midi and Charles are in their early 30s and have just purcha…
Midi and Charles are in their early 30s and have just purchased their first home. Their combined after-tax income is $80,000. The house is worth $275,000 with a $200,000 mortgage. They own a car worth $15,000 with a $8,000 loan. There is also a piece of land Midi inherited worth $20,000. Their student loans total $30,000 and they currently owe $2700 on their credit cards. In addition, Charles owes his uncle $18,000 for helping pay for his tuition to grad school. They put $200/mo into their savings account which is currently worth $3,400. What is their net worth?
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