Question

Question
Constructing the table, what are the total value of assets, total balance of liabilities, and net worth?(2 points)
Assets Value
Car $4,500
Computer $1,200
Savings account $450
Total Assets $
Liabilities Balance Owed
Car loan $3,000
Credit card balance $1,000
Total Liabilities $
Net Worth $

Answer 1

To determine the total value of assets, total balance of liabilities, and net worth, we can follow these calculations:

### Assets:
- Car: $4,500
- Computer: $1,200
- Savings account: $450

**Total Assets** = Car + Computer + Savings account
**Total Assets** = $4,500 + $1,200 + $450 = **$6,150**

### Liabilities:
- Car loan: $3,000
- Credit card balance: $1,000

**Total Liabilities** = Car loan + Credit card balance
**Total Liabilities** = $3,000 + $1,000 = **$4,000**

### Net Worth:
**Net Worth** = Total Assets - Total Liabilities
**Net Worth** = $6,150 - $4,000 = **$2,150**

### Summary:
- **Total Assets:** $6,150
- **Total Liabilities:** $4,000
- **Net Worth:** $2,150