Given :
Marcus is a recent college graduate. He has $18,000 in student loans. He took out a loan to buy a car and owes $16,000. The car is now worth $14,000. He got his first paycheck and has $1400 in his checking account.
To Find :
Marcus's net worth.
Solution :
We know, net worth is given by :
Net worth = $( Total amount owns - Total loan )
Net worth = $( 16000+1400) - ( 18000+14000)
Net worth = $(17400 - 32000)
Net worth = $-14600
Therefore, Marcus' net worth is $-14600 ( He is in a loan of $14600).
Hence, this is the required solution.
