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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?

  1. $8,000
  2. $13,000
  3. $18,000
  4. $23,000