Question

Calculate net worth using the following information. Assets Liabilities car - $3,500 car loan - $3,000 savings account - $1,000 credit card - $500 cash - $80 stock - $120 $1,200 $12,000 $500 $8,200

Answer 1

ok, I'm going to tell you how to calculate it and the answer.
so what you do is add up your assets and then add up your liabilities.
then you subtract your liabilities from your assets in this case your assets add up to 4,700 and your liabilities add up to 3,500.
then you subtract 4,700 from 3,500 since your liability is a lower number.
And then your answer would be $1,200 dollars hope it helped :D

Answer 2

$1,200

Step-by-step explanation:

Net worth is simply calculates as assets minus liabilities. Assets are everything of significance,which include savings and investments, your house and other real estate, vehicles or any other properties of value you own. Liabilities includes car loans, your mortgage, salaries/wages, and any other loan debt.

Assets = $3,500 + $1,000 + $80 + $120 = $4,700

liabilities = $3,000 + $500 = $3,500

Net worth = $4,700 - $3,500 = $1,200