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)
Answers
GPT-4o mini
To calculate the net worth, you need to find the total assets and total liabilities. Here's how to do that using the provided information:
### Assets
- Car: $36,000
- Computer: $1,115
- Savings account: $27,844
- Retirement savings: $90,291
**Total Assets = Car + Computer + Savings account + Retirement savings**
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
### Liabilities
- Mortgage: $114,500
- Credit card balance: $3,062
**Total Liabilities = Mortgage + Credit card balance**
Total Liabilities = $114,500 + $3,062 = $117,562
### Net Worth
**Net Worth = Total Assets - Total Liabilities**
Net Worth = $155,250 - $117,562 = $37,688
Thus, the net worth is **$37,688**.
### Assets
- Car: $36,000
- Computer: $1,115
- Savings account: $27,844
- Retirement savings: $90,291
**Total Assets = Car + Computer + Savings account + Retirement savings**
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
### Liabilities
- Mortgage: $114,500
- Credit card balance: $3,062
**Total Liabilities = Mortgage + Credit card balance**
Total Liabilities = $114,500 + $3,062 = $117,562
### Net Worth
**Net Worth = Total Assets - Total Liabilities**
Net Worth = $155,250 - $117,562 = $37,688
Thus, the net worth is **$37,688**.