Question

Use the table to answer the question.

Assets Value
Car $36,000
Computer $1,115
Savings account $27,844
Retirement savings $90,291
Total Assets
Liabilities Balance Owed
Mortgage $114,500
Credit card balance $3,062
Total Liabilities
Net Worth
Constructing the table, what is the net worth?

(1 point)
Responses

$155,250
$155,250

$117,562
$117,562

$43,812
$43,812

$37,688

Answer 1

To calculate the net worth, we need to determine the total assets and total liabilities first.

**Total Assets Calculation:**
- Car: $36,000
- Computer: $1,115
- Savings account: $27,844
- Retirement savings: $90,291

Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250

**Total Liabilities Calculation:**
- Mortgage: $114,500
- Credit card balance: $3,062

Total Liabilities = $114,500 + $3,062 = $117,562

**Net Worth Calculation:**
Net Worth = Total Assets - Total Liabilities
Net Worth = $155,250 - $117,562 = $37,688

Thus, the correct response for the net worth is:

**$37,688**