Question

You have a sneaker collection worth $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets?(1 point)

$2,500

$2,300

$500

$2,000

Answer 1

explain

Answer 2

$2,300

Answer 3

To calculate your total assets, you add up the value of all your assets.

In this case, you have a sneaker collection worth $2,000. Additionally, you have $300 in your savings account.

However, you also have a credit card balance of $200. Since credit card balances represent debt, they are not considered assets.

So, to calculate your total assets, you add the value of your sneaker collection and your savings account:

$2,000 (sneaker collection) + $300 (savings account) = $2,300.

Therefore, your total assets are $2,300.