Net Worth

An item or amount of money that you own.

• Asset

• Liability

• Net Worth

An amount of money that you owe to a financial institution:

• Asset

• Liability

• Net Worth

The value of all assets minus the value of all liabilities.

• Financial obligations

• Assets

• Net Worth

• Property

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

Categorize the following term as an asset or liability:

Student Loans

• Asset

• Liability

Categorize the following term as an asset or liability:

Credit Card Debt

• Asset

• Liability

Categorize the following term as an asset or liability:

House (current value)

• Asset

• Liability

Categorize the following term as an asset or liability:

Automobile (paid-off)

• Asset

• Liability

The Anderson family has $208,540 in assets and $156,350 in liabilities. What is the net worth of the Anderson family?

• $208,540

• $156,350

• $52,190

• -$52,190

The Hevey family has $102,683 in assets and $134,985 in liabilities. What is the net worth of the Anderson family?

• $102,683

• $134,985

• $32,302

• -$32,302

Based on the chart above, what is the Net Worth?

(Assets = $50,850) and (Liabilities = $16,480).

• $16,840

• $50,850

• $34,370

• $67,690