Question

What is their net worth? Item Value ($) House (owned) 42,365 Car debt 980 Boat debt 2,200 Credit Card debt 3,298 Savings 1,255 Cash 355 Student Loan 1,500

Answer 1

Step-by-step explanation:

42365+1255+355-980-2200-3298-1500=35997 $

Answer 2

Net Worth = $ 35997

Step-by-step explanation:

Item                                Value ($)      

House (owned)              42365

Car  Debt                            980

Boat  Debt                        2200

Credit Card Debt              3298

Saving                                1255

Cash                                      355

Loan                                   1500

Loan & all Debt entries are Liabilities hence will be -ve  in Net worth

Hence net worth =  ( 42365 + 1255 + 355)  -  (980 + 2200 + 3298 + 1500)

= (43975) - (7978)

= 35997 $

Net Worth = $ 35997

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