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) Responses

Answer 1

To calculate your total assets, you need to sum up the value of your sneaker collection and your savings account. Your credit card balance is a liability, so it is not included in your total assets.

Here's the breakdown:

• Value of sneaker collection: $2,000
• Savings account: $300

Total assets = Value of sneaker collection + Savings account Total assets = $2,000 + $300 = $2,300

Your total assets amount to $2,300.