Question

Saved
Net worth can be increased by _____.
Question 1 options:

solely selling assets


solely a positive contribution to savings


an increase in debt


contributing to savings and/or an increase in asset values

Question 2 (1 point)
Saved
Guadalupe owns a car that is worth $14,700. She has a savings account of $4,750 and a credit card balance of $825. What is her net worth?
Question 2 options:

$19450


-$16320


$18625


$1825

Question 3 (1 point)
What scenario would lead two people to have shared net worth?
Question 3 options:

They share income and expenses with one another.

They are siblings.

They share job titles and earn the same salary.


They use the same bank.

Question 4 (1 point)
If your shared net worth is very low and you are struggling to pay your bills, you and your partner may want to _____.
Question 4 options:

consult a consumer credit counseling service


immediately increase your net worth


immediately increase your liabilities


apply for credit cards together

Question 5 (1 point)
You have a car worth $6,000 and $15,000 in the bank. You also have $3,500 in credit card debt and $10,000 left on your student loans. Based on these figures, what is your net worth?
Question 5 options:

$21,000


$7,500


$34,500


-$11,500

Answer 1

Here are the answers:

1) contributing to savings and/or an increase in asset values

2) $18,625
- Calculation: (14,700 + 4,750) − 825 = 18,625

3) They share income and expenses with one another.

4) consult a consumer credit counseling service

5) $7,500
- Calculation: (6,000 + 15,000) − (3,500 + 10,000) = 7,500