Last year, David paid down his motorcycle loan by $4,000 and his school loan by $8,000. He was also able to add $11,000 to his IRA from his checking account. David’s investment account grew by $15,000 during the year. How much did David’s net worth increase for the year?

  1. $12,000
  2. $23,000
  3. $27,000
  4. $38,000