Question

Garth’s home entertainment system is worth about $1,200. He also owns some sports equipment valued at $300 and has $950 in a savings account. Garth owes one more pay-ment of $50 on his entertainment system. What is Garth’s net worth? * 1 point Your answer Submit

Answer 1

$2,400

Step-by-step explanation:

An individuals net worth is calculated by adding the value of everything they own including cash, and then subtracting what they owe. Therefore, based on the values provided we can sum the individual values of the entertainment system, sporting equipment, and savings account balance and then subtract the remaining payment that needs to be made for the entertainment system. This would give us Garth's net worth.

$1,200 + $300 + $950 - $50 = $2,400

Therefore, Garth's net worth is $2,400