QuestionJune 5, 2025

Now that you understand the difference between assets and liabilities, you can use that information to calculate your net worth. You've got the following assets and liabilities: - Value of your car: 1,500 - Value of your laptop: 350 Checking account balance: 1,000 Amount owed on cell phone: 275 What's your net worth? 1,950 2,575 3,125 2,850

Now that you understand the difference between assets and liabilities, you can use that information to calculate your net worth. You've got the following assets and liabilities: - Value of your car: 1,500 - Value of your laptop: 350 Checking account balance: 1,000 Amount owed on cell phone: 275 What's your net worth? 1,950 2,575 3,125 2,850
Now that you understand the difference between assets and liabilities, you can use
that information to calculate your net worth.
You've got the following assets and liabilities:
- Value of your car: 1,500
- Value of your laptop: 350
Checking account balance: 1,000
Amount owed on cell phone: 275
What's your net worth?
 1,950
 2,575
 3,125
 2,850

Solution
4.0(177 votes)

Answer

\ 2,575 Explanation 1. Calculate Total Assets Add the values of your car, laptop, and checking account balance: 1500 + 350 + 1000 = 2850. 2. Calculate Total Liabilities Sum the amount owed on the cell phone: 275. 3. Calculate Net Worth Subtract total liabilities from total assets: 2850 - 275 = 2575.

Explanation

1. Calculate Total Assets<br /> Add the values of your car, laptop, and checking account balance: $1500 + 350 + 1000 = 2850$.<br />2. Calculate Total Liabilities<br /> Sum the amount owed on the cell phone: $275$.<br />3. Calculate Net Worth<br /> Subtract total liabilities from total assets: $2850 - 275 = 2575$.
Click to rate:

Similar Questions