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

$43,812
$43,812

$155,250
$155,250

$37,688
$37,688

$117,562

Answer 1

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

Total assets:
Car - $36,000
Computer - $1,115
Savings account - $27,844
Retirement savings - $90,291

Total liabilities:
Mortgage - $114,500
Credit card balance - $3,062

Total assets: $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total liabilities: $114,500 + $3,062 = $117,562

Net worth: Total assets - Total liabilities = $155,250 - $117,562 = $37,688

Therefore, the net worth is $37,688.