Question

Samuel has $2,000 in the bank and owns a car worth $9,000. He also has $10,000 worth of student loans and a $500 credit card bill. What is Samuel's net worth?

Answer 1

The answer is 500 Because if you $2,000 +$9,000 = 11,000 11,000 - 10,000 - 500 = 500 Do you understand? hope this helped :)

Answer 2

Samuel's net worth $500.

Explanation:

Samuel has the bank balance of $2,000.

He owns a Car worth $9,000

His Total assets = Bank balance + Car's worth.

Total Assets = 2000 + 9000 = $11,000

Samuel has a student loan worth $10,000

His credit card bill is 500 dollars.

His total liability = Student loan + Credit card bill.

Total Liability = 10,000 + 500 = $10,500.

We know Net worth = Total Assets - Total Liability

Samuel's net worth = 11,000 - 10,500 = $500