CFP® Practice Question: Net Worth Increase
During the year, Michelle paid down her car loan by $5,000 and her school loan by $3,000. She also contributed $5,000 cash from her checking account to an IRA. Michelle’s investment account grew by $10,000 during the year. How much did Michelle’s net worth increase for the year?
- $8,000
- $13,000
- $18,000
- $23,000