Net Worth - Personal Finance Chapter 2

Emily's car is worth approximately $5,300 according to the Kelley Blue Book website, but she still owes $1600 on her loan. She also has $800 in a savings account. What is Emily's net worth?

(a)  

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CCSS.7.EE.B.3

Jamal makes $9 an hour and works about 15 hours a week. He also gets a $25 per week allowance. What is his total annual income?

(a)  

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CCSS.7.EE.B.3

Phillip created the net worth statement shown.

Based on the information in the statement, what is Phillips's net worth?

• $184,500

• $41,500

• -$71,500

• -$41,500

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CCSS.7.NS.A.1B

Jenn's total assets are $8,794. Her liabilities are $2,670 in credit card debt and $3,622 for a student loan. What is her net worth?

• $6,124

• -$4,328

• $15,086

• $2,502

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CCSS.7.EE.B.3

Which of the following is the sum of the individual’s current assets minus the individual’s total liabilities?

• Net worth

• Variable expenses

• Liquid assets

• Budget

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CCSS.6.NS.C.7C

The table shows Rochelle's net worth statement. Assets are shown as positive values and liabilities are shown as negative numbers. Based on the information in the statement, what is Rochelle's net worth?

(a)  

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7.13.C

Abby lives in a home worth $115,000.  She has a mortgage of $98,000.  she owes $5,200 on her car that is worth $11,000.  she has a credit card balance of $2,300.  she also has a checking account with a balance of $900 and $300 in gift cards.  What is Abby's net worth?

• 127,200
• 105,500
• 232,700
• 21,700

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CCSS.7.NS.A.3

An individual has total assets of $120,000 and total liabilities of $80,000. What is his net worth?

• $40,000

• $50,000

• $60,000

• $30,000

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CCSS.6.NS.C.5

Maria has a car that she could sell for about $7,000, according to her uncle who is a used car dealer. However, she still owes $2,200 on her car loan. She has $1,100 in her checking account and $300 in cash. What is Maria's net worth?

(a)  

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CCSS.7.EE.B.3

Assume you took $2500 in cash out of your savings account and bought a car worth $2500. How much did your net worth change?

• -$2500

• $1250

• $0

• -$5000

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CCSS.7.NS.A.1A