7.13B Net Worth

Calculate Amy's net worth from the list. Owns a $140,000 house. Owns furniture worth $1,543. Owes $12,400 on auto loan. $375 cash. $1,800 in savings. $1,014 in credit card debt. Has $525 in clothes

• $130, 829

• $327,250

• $18,625

• $-104,770

What are assets?

• the value of mine's assets minus one's liabilities

• items that are owned by an individual

• debts that are owed by an individual

Calculate Amy's net worth from the list. Owns a $325,000 house. Owns a car valued at $16,000. Owes $12,400 in student loans. $225 cash. $1,200 in savings. $5,975 on credit card. Has $3,200 worth of jewelry.

• $-104,770

• $-1285.70

• $327,250

• $130,829

What are liabilities?

• items that are owned by an individual

• the value of one's assets minus one's liabilities

• debts that are owned by an individual

What is a net worth?

• items that are owned by an individual

• the value of one's assets minus one's liabilities

• debts that are owed by an individual

Calculate Amy's net worth from the list. Owes $120, 000 on mortgage. Owns a car valued at $16,000. $50 cash. $2,500 in savings. $4,520 on credit card. Has $1,200 worth of jewelry.

• $18, 625

• $327, 250

• $130,829

• $-104,770

Sarah's net worth is -$650.74. If she goes on a shopping spree with her favorite credit card and increases her liabilities by $634.96, what is her new net worth?

• $1285.70

• $1,862.50

• $18,625

• $-1285.70

Izzy owns a car that is worth $14,700. She has a savings account of $4,750 and a credit card balance of $825. What is her net worth?

• $18,625

• $5,575

• $-18,625

• $15,354

Chase's net worth is $15,354. Which of the following is true?

• He has a positive net worth which means his assets are greater than his liabilities.

• net worth

• He has a negative net worth which means his liabilities are greater than his assets

The table below shows Claude's assets and liabilities.  What is the total value of his liabilities?

• $24,950
• -$24,520
• $25,420
• $50,370

Tags

CCSS.6.NS.C.5