Question

The personal assets and liabilities of a carpenter are listed below. home value $175,742 mortgage $76,765 credit card balance $2,055 owned work equipment $3,365 car value $44,346 investments $61,225 truck loan $66,408 what is the carpenter's net worth? $139,450 $145,228 $281,313 $284,678

Answer 1

To calculate the carpenter's net worth, subtract the liabilities from the assets. The carpenter's net worth is $139,450.

Step-by-step explanation:

In order to calculate the carpenter's net worth, we need to subtract the liabilities from the assets. Let's break it down:

Assets:

• Home value: $175,742
• Owned work equipment: $3,365
• Car value: $44,346
• Investments: $61,225

Liabilities:

• Mortgage: $76,765
• Credit card balance: $2,055
• Truck loan: $66,408

To calculate the net worth, we subtract the total liabilities from the total assets:

Total Assets = $175,742 + $3,365 + $44,346 + $61,225 = $284,678

Total Liabilities = $76,765 + $2,055 + $66,408 = $145,228

Net Worth = Total Assets - Total Liabilities = $284,678 - $145,228 = $139,450

Therefore, the carpenter's net worth is $139,450.