Question

Your grandma gave you $100 toward buying a $700 computer. You put $600 on a credit card. You didn’t take any money out of your $300 savings account. What are your total assets?(1 point)
Responses

$1,700
$1,700

$900
$900

$1,100
$1,100

$1,000

Answer 1

To calculate your total assets, let's analyze the components:

1. **Computer**: The value of the computer you purchased is $700.
2. **Savings Account**: You have $300 in your savings account.
3. **Credit Card**: The credit card debt does not count as an asset; instead, it is a liability. Therefore, it doesn't affect the total assets calculation.

Now, add the value of the computer and your savings:

- Value of the computer: $700
- Savings account: $300

Total assets = $700 + $300 = **$1,000**.

So, the correct response is: **$1,000**.