Question

now that you understand the difference between assets and liabilities, you can use that information to calculate your net worth. youve got the following assets and liabilities: • value of your car: $1,500 • value of your laptop: $350 • checking account balance: $1,000 • amount owed on cell phone: $275 whats your net worth? $3,125 $2,850 $2,575 $1,950

Explanation:

Step1: Calculate total assets

$1500 + 350+1000=2850$

Step2: Calculate net - worth

Net worth = Total assets - Liabilities. Here, liability is $275$. So, $2850 - 275 = 2575$

Answer:

$2,575$