Use the table to answer the 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)

Answer 1

To calculate the net worth, you need to find the total assets and total liabilities. Here's how to do that using the provided information:

Assets

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

Total Assets = Car + Computer + Savings account + Retirement savings

Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250

Liabilities

• Mortgage: $114,500
• Credit card balance: $3,062

Total Liabilities = Mortgage + Credit card balance

Total Liabilities = $114,500 + $3,062 = $117,562

Net Worth

Net Worth = Total Assets - Total Liabilities

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

Thus, the net worth is $37,688.