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