Use the table to answer the question.

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)
Responses

$117,562
$117,562

$37,688
$37,688

$155,250
$155,250

$43,812
$43,812
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Answer 1

To find the net worth, you need to subtract the total liabilities from the total assets.

Total Assets = $36,000 (Car) + $1,115 (Computer) + $27,844 (Savings account) + $90,291 (Retirement savings) = $155,250

Total Liabilities = $114,500 (Mortgage) + $3,062 (Credit card balance) = $117,562

Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688

Therefore, the net worth is $37,688.