Question

Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is Joaquin's net worth? Select the best answer from the choices provided. $1,300 -$7,000 $5,300 -$1,700

Answer 1

The answer to this question would be: -$1,700

In this question, we can separate the account into positive/debit and negative/credit value. The positive/debit value should be:

Joaquin has $1,300 in the bank
He has $4,000 worth of investment
Total positive value = $1300 + $4000= $5300

The negative value should be
$7,000 worth of credit card debt
Total positive value =$7000

Then the net worth should be: $5300 - $7000= -$1700